Melrose Industries (LON:MRO) Stock Price Down 16.5% – What’s Next?

Melrose Industries PLC (LON:MRO) shares dropped 16.5% on Thursday . The stock traded as low as GBX 563 ($7.28) and last traded at GBX 567.80 ($7.34). Approximately 50,016,828 shares changed hands during trading, an increase of 393% from the average daily volume of 10,147,989 shares. The stock had previously closed at GBX 680 ($8.79).

Wall Street Analyst Weigh In

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

Melrose Industries Stock Down 11.7 %

The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45. The firm’s 50 day moving average is GBX 597.55 and its two-hundred 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 PEG ratio of 0.48 and a beta of 1.51.

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

Insider Activity at Melrose Industries

In other Melrose Industries news, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.32), for a total transaction of £44,997 ($58,158.20). 1.00% of the stock is owned by company insiders.

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.