Melrose Industries (LON:MRO) Shares Down 18.2% – Here’s What Happened

Shares of Melrose Industries PLC (LON:MRO) dropped 18.2% during trading on Thursday . The company traded as low as GBX 556.40 ($7.17) and last traded at GBX 556.40 ($7.17). Approximately 16,050,553 shares were traded during mid-day trading, an increase of 71% from the average daily volume of 9,409,593 shares. The stock had previously closed at GBX 680 ($8.77).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 850 ($10.96) price objective on shares of Melrose Industries in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Melrose Industries has an average rating of “Moderate Buy” and an average target price of GBX 640 ($8.25).

Melrose Industries Price Performance

The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86. The company has a market cap of £7.79 billion, a price-to-earnings ratio of -203.94, a PEG ratio of 0.48 and a beta of 1.51. The business has a fifty day moving average price of GBX 593.91 and a 200 day moving average price of GBX 529.46.

Melrose Industries (LON:MRO) last released its quarterly earnings data on Thursday, March 6th. The company reported GBX 26.80 ($0.35) earnings per share (EPS) for the quarter. Melrose Industries had a negative net margin of 1.13% and a negative return on equity of 1.18%. As a group, research analysts anticipate that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Activity at Melrose Industries

In other news, insider David Lis sold 7,950 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.30), for a total value of £44,997 ($58,000.77). 1.00% of the stock is currently owned by company insiders.

Melrose Industries Company Profile

Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.