Morgan Advanced Materials (LON:MGAM) Trading Down 2.8% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM)’s share price fell 2.8% on Friday . The stock traded as low as GBX 254.50 ($3.21) and last traded at GBX 255.70 ($3.22). 544,067 shares were traded during trading, a decline of 61% from the average session volume of 1,409,332 shares. The stock had previously closed at GBX 263 ($3.31).

Analyst Ratings Changes

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

Morgan Advanced Materials Stock Down 16.2 %

The company has a 50-day moving average of GBX 266.36 and a two-hundred day moving average of GBX 271.51. The company has a market capitalization of £604.67 million, a PE ratio of 8.83, a P/E/G ratio of 0.51 and a beta of 1.34. The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26.

Morgan Advanced Materials (LON:MGAM) last posted its quarterly earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share 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 earnings per share for the current fiscal year.

About Morgan Advanced Materials

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.