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

Melrose Industries PLC (LON:MRO)’s share price fell 11.7% during 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 traded hands during mid-day 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 Analyst Weigh In

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

Melrose Industries Stock 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 stock has a fifty day moving average price of GBX 596.44 and a 200-day moving average price of GBX 531.51. The firm has a market capitalization of £6.35 billion, a price-to-earnings ratio of -166.14, a PEG ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO) last released its quarterly 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 return on equity of 1.18% and a negative net margin of 1.13%. As a group, analysts anticipate that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Activity at Melrose Industries

In related news, insider David Lis sold 7,950 shares of the firm’s 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). 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.