Morgan Advanced Materials (LON:MGAM) Shares Down 19.9% – Here’s What Happened

Shares of Morgan Advanced Materials plc (LON:MGAM) were down 19.9% on Friday . The company traded as low as GBX 198 ($2.50) and last traded at GBX 205 ($2.58). Approximately 5,194,462 shares were traded during mid-day trading, an increase of 246% from the average daily volume of 1,499,454 shares. The stock had previously closed at GBX 256 ($3.23).

Analyst Ratings Changes

Several brokerages have recently weighed in on MGAM. Royal Bank of Canada dropped their price target on shares of Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Citigroup increased their price objective on shares of Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the company a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Trading Down 16.2 %

The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The stock has a fifty day moving average of GBX 266.36 and a 200-day moving average of GBX 271.51. The company has a market cap of £604.67 million, a PE ratio of 8.83, a PEG ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last issued its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. Sell-side analysts anticipate that Morgan Advanced Materials plc will post 32.5 EPS for the current fiscal year.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.