Morgan Advanced Materials (LON:MGAM) Shares Down 16.2% – What’s Next?

Morgan Advanced Materials plc (LON:MGAM)’s stock price was down 16.2% on Saturday . The company traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). Approximately 8,720,610 shares traded hands during mid-day trading, an increase of 451% from the average daily volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.22).

Analyst Ratings Changes

A number of analysts recently weighed in on MGAM shares. Citigroup increased their price target on shares of Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada cut their price target on shares of Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a research report on Thursday, November 7th.

Morgan Advanced Materials Stock 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 firm has a market capitalization of £604.67 million, a price-to-earnings ratio of 8.83, a P/E/G ratio of 0.51 and a beta of 1.34. The business’s 50-day moving average is GBX 265.32 and its two-hundred day moving average is GBX 270.85.

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