Melrose Industries (LON:MRO) Trading Down 11.7% – Here’s What Happened

Melrose Industries PLC (LON:MRO)’s share price traded down 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). 18,429,754 shares were traded during trading, an increase of 92% from the average session volume of 9,600,518 shares. The stock had previously closed at GBX 556.40 ($7.19).

Wall Street Analysts Forecast Growth

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

Melrose Industries Price Performance

The stock has a market capitalization of £6.35 billion, a PE ratio of -166.14, a PEG ratio of 0.48 and a beta of 1.51. 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 company’s 50 day simple moving average is GBX 596.44 and its 200 day simple moving average is GBX 531.51.

Melrose Industries (LON:MRO) last released 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%. On average, equities analysts anticipate that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David Lis sold 7,950 shares of the business’s stock in a transaction 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 owned by corporate 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.