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

Melrose Industries PLC (LON:MRO)’s stock price fell 11.7% 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 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).

Analyst Ratings Changes

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

Melrose Industries Stock Down 11.7 %

The stock has a market cap of £6.35 billion, a price-to-earnings ratio of -166.14, a PEG 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. The stock has a fifty day moving average of GBX 597.55 and a two-hundred day moving average of GBX 531.47.

Melrose Industries (LON:MRO) last issued its 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, analysts predict that Melrose Industries PLC will post 33.9741641 EPS for the current fiscal year.

Insider Buying and Selling at Melrose Industries

In other news, insider David Lis sold 7,950 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.32), for a total value of £44,997 ($58,158.20). 1.00% of the stock is 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.