Melrose Industries (LON:MRO) Shares Down 11.7% – Here’s Why

Melrose Industries PLC (LON:MRO) was down 11.7% during trading on Saturday . The stock traded as low as GBX 488.80 ($6.32) and last traded at GBX 491.24 ($6.35). Approximately 18,429,754 shares traded hands during mid-day trading, an increase of 92% from the average daily volume of 9,600,518 shares. The stock had previously closed at GBX 556.40 ($7.19).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 850 ($10.98) price objective on shares of Melrose Industries in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Melrose Industries 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 firm has a fifty day simple moving average of GBX 596.44 and a 200-day simple moving average of GBX 531.51. The firm has a market cap of £6.35 billion, a price-to-earnings ratio of -166.14, a P/E/G ratio of 0.48 and a beta of 1.51. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86.

Melrose Industries (LON:MRO) last announced its quarterly earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) earnings per share (EPS) for the quarter. Melrose Industries had a negative return on equity of 1.18% and a negative net margin of 1.13%. As a group, sell-side analysts expect 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 stock in a transaction on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.31), for a total transaction of £44,997 ($58,143.17). Company 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.