Morgan Advanced Materials (LON:MGAM) Releases Quarterly Earnings Results

Morgan Advanced Materials (LON:MGAM) posted its earnings results on Thursday. The company reported GBX 11.50 ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of GBX 12.60 ($0.16) by GBX (1.10) (($0.01)), Digital Look Earnings reports.

Shares of MGAM stock opened at GBX 217 ($2.67) on Friday. Morgan Advanced Materials has a 12-month low of GBX 2.36 ($0.03) and a 12-month high of GBX 339.40 ($4.18). The firm has a market cap of $619.25 million and a P/E ratio of 8.51. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 92.83. The company has a 50 day moving average of GBX 234.38 and a 200-day moving average of GBX 243.08.

Several equities analysts have commented on MGAM shares. Jefferies Financial Group dropped their target price on shares of Morgan Advanced Materials from GBX 308 ($3.79) to GBX 240 ($2.95) and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Berenberg Bank restated a “buy” rating on shares of Morgan Advanced Materials in a research note on Friday, May 15th. Peel Hunt restated a “buy” rating on shares of Morgan Advanced Materials in a research note on Thursday. Citigroup raised their price target on shares of Morgan Advanced Materials from GBX 275 ($3.38) to GBX 290 ($3.57) and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Royal Bank of Canada upgraded shares of Morgan Advanced Materials to a “sector performer” rating and decreased their price target for the stock from GBX 275 ($3.38) to GBX 265 ($3.26) in a research note on Friday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of GBX 266.67 ($3.28).

Morgan Advanced Materials Company Profile

Morgan Advanced Materials plc operates as an advanced materials science and engineering company that focuses on ceramics, carbon, and composites primarily in the United Kingdom. The company offers high-temperature insulating fiber products, microporous products, firebricks, monolithic products, heat shields, fired refractory shapes, and structural block insulation products; crucibles, foundry products, and furnace industries furnace ranges; and seals and bearings, as well as general pump components, such as shafts, vanes, rotors, and washers.

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