Melrose Industries (LON:MRO) Shares Down 18.2% – Here’s What Happened

Melrose Industries PLC (LON:MRO)’s stock price traded down 18.2% on Thursday . The company traded as low as GBX 556.40 ($7.19) and last traded at GBX 556.40 ($7.19). 16,050,553 shares traded hands during mid-day trading, an increase of 71% from the average session volume of 9,409,593 shares. The stock had previously closed at GBX 680 ($8.79).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 850 ($10.99) price target on shares of Melrose Industries in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Melrose Industries has an average rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.27).

Melrose Industries Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 44.03. The business’s fifty day moving average is GBX 597.55 and its 200 day moving average is GBX 531.47. The firm has a market capitalization of £6.35 billion, a P/E ratio of -166.14, a P/E/G ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO) last posted its earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) EPS for the quarter. Melrose Industries had a negative net margin of 1.13% and a negative return on equity of 1.18%. As a group, analysts forecast that Melrose Industries PLC will post 33.9741641 EPS for the current year.

Insiders Place Their Bets

In other Melrose Industries news, insider David Lis sold 7,950 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.32), for a total value of £44,997 ($58,158.20). Insiders own 1.00% of the company’s stock.

About Melrose Industries

Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.