Morgan Advanced Materials (LON:MGAM) Releases Quarterly Earnings Results

Morgan Advanced Materials (LON:MGAM) issued its quarterly earnings data on Friday. The company reported GBX 25.50 ($0.32) earnings per share for the quarter, Digital Look Earnings reports. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%.

Morgan Advanced Materials Stock Down 16.2 %

MGAM stock traded down GBX 41.49 ($0.52) during trading on Friday, reaching GBX 214.51 ($2.70). The stock had a trading volume of 8,720,610 shares, compared to its average volume of 1,583,410. Morgan Advanced Materials has a one year low of GBX 198 ($2.50) and a one year high of GBX 347 ($4.37). The company’s 50 day moving average is GBX 266.36 and its two-hundred day moving average is GBX 271.51. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31. The company has a market capitalization of £604.67 million, a price-to-earnings ratio of 8.83, a P/E/G ratio of 0.51 and a beta of 1.34.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada cut their price target on shares of Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating on the stock in a report on Thursday, November 7th. Citigroup raised their price target on shares of Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the stock a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.