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

Melrose Industries PLC (LON:MRO)’s share price dropped 11.7% during trading on Saturday . The company 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 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. reissued an “overweight” rating and set a GBX 850 ($10.99) price target on shares of Melrose Industries in a report on Thursday, January 23rd.

Melrose Industries Price Performance

The business has a fifty day moving average price of GBX 596.44 and a 200 day moving average price of GBX 531.51. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86. The company 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.

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, research analysts anticipate that Melrose Industries PLC will post 33.9741641 earnings per share for the current 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.