Melrose Industries (LON:MRO) Stock Price Down 11.7% – Here’s Why

Melrose Industries PLC (LON:MRO)’s share price dropped 11.7% during mid-day trading on Friday . The company traded as low as GBX 488.80 ($6.32) and last traded at GBX 491.24 ($6.35). Approximately 18,429,754 shares traded hands during trading, an increase of 92% from the average daily volume of 9,600,518 shares. The stock had previously closed at GBX 556.40 ($7.19).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 850 ($10.99) target price on shares of Melrose Industries in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 640 ($8.27).

Melrose Industries Trading Down 11.7 %

The company has a market capitalization of £6.35 billion, a price-to-earnings ratio of -166.14, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The business has a fifty day moving average price of GBX 597.55 and a 200 day moving average price of GBX 531.47. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45.

Melrose Industries (LON:MRO) last issued its quarterly earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) EPS for the quarter. Melrose Industries had a negative return on equity of 1.18% and a negative net margin of 1.13%. On average, equities analysts expect that Melrose Industries PLC will post 33.9741641 EPS for the current fiscal year.

Insider Transactions at Melrose Industries

In related news, insider David Lis sold 7,950 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.32), for a total value of £44,997 ($58,158.20). Corporate insiders own 1.00% of the company’s stock.

About Melrose Industries

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.