Morgan Advanced Materials plc (LON:MGAM – Get Free Report) shares were down 16.2% during trading on Saturday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). Approximately 8,720,610 shares traded hands during mid-day trading, an increase of 451% from the average daily volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.22).
Analysts Set New Price Targets
Several research analysts have recently commented on MGAM shares. Citigroup boosted their target price on Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the stock a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada reduced their target price on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a report on Thursday, November 7th.
Get Our Latest Analysis on Morgan Advanced Materials
Morgan Advanced Materials Stock Performance
Morgan Advanced Materials (LON:MGAM – Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. Analysts forecast that Morgan Advanced Materials plc will post 32.5 EPS for the current fiscal year.
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.
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