Melrose Industries (LON:MRO) Shares Down 11.7% – What’s Next?

Melrose Industries PLC (LON:MRO) shares dropped 11.7% during mid-day trading on Friday . 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 were traded 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 Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 850 ($10.98) price objective on shares of Melrose Industries in a research note on Thursday, January 23rd.

Melrose Industries Stock Performance

The firm’s 50-day moving average price is GBX 596.44 and its two-hundred day moving average price is GBX 531.51. The firm has a market capitalization of £6.35 billion, a PE ratio of -166.14, a P/E/G ratio of 0.48 and a beta of 1.51. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03.

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%. As a group, research analysts predict that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider David Lis sold 7,950 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.31), for a total transaction of £44,997 ($58,143.17). 1.00% of the stock is currently owned by corporate insiders.

Melrose Industries Company Profile

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.