Morgan Advanced Materials (LON:MGAM) Trading Down 14.6% – What’s Next?

Morgan Advanced Materials plc (LON:MGAM)’s stock price dropped 14.6% during trading on Friday . The company traded as low as GBX 198 ($2.49) and last traded at GBX 218.73 ($2.75). Approximately 7,247,775 shares were traded during mid-day trading, an increase of 368% from the average daily volume of 1,548,342 shares. The stock had previously closed at GBX 256 ($3.22).

Wall Street Analyst Weigh In

Several brokerages have weighed in on MGAM. Royal Bank of Canada reduced their price objective on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Citigroup boosted their target price on 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.

Morgan Advanced Materials Price Performance

The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The company has a market capitalization 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 stock’s 50-day moving average is GBX 266.36 and its two-hundred day moving average is GBX 271.51.

Morgan Advanced Materials (LON:MGAM) last issued 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 return on equity of 19.02% and a net margin of 6.17%. On average, equities analysts predict 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.