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

Shares of Melrose Industries PLC (LON:MRO) were down 11.7% 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 changed 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).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 850 ($10.99) price target on shares of Melrose Industries in a research note on Thursday, January 23rd.

Melrose Industries Stock Down 11.7 %

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

Melrose Industries (LON:MRO) last issued its quarterly earnings data 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%. On average, equities analysts predict that Melrose Industries PLC will post 33.9741641 EPS for the current fiscal year.

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.