Morgan Advanced Materials (LON:MGAM) Stock Price Down 17.2% – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM) shares fell 17.2% during trading on Friday . The company traded as low as GBX 198 ($2.50) and last traded at GBX 212 ($2.67). 6,172,535 shares traded hands during trading, an increase of 305% from the average session volume of 1,522,205 shares. The stock had previously closed at GBX 256 ($3.23).

Wall Street Analyst Weigh In

Several analysts have weighed in on MGAM shares. Citigroup upped their target price on 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. Royal Bank of Canada lowered their price objective 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.

Morgan Advanced Materials Trading Down 16.2 %

The business has a 50 day moving average of GBX 266.36 and a 200-day moving average of GBX 271.51. The stock has a market cap of £604.67 million, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31.

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