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

Shares of Melrose Industries PLC (LON:MRO) traded 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). 18,429,754 shares changed hands during mid-day 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. reissued an “overweight” rating and issued a GBX 850 ($10.98) price objective on shares of Melrose Industries in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.27).

Melrose Industries Trading Down 11.7 %

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 company has a fifty day moving average of GBX 596.44 and a two-hundred day moving average of GBX 531.51. The stock has a market capitalization of £6.35 billion, a price-to-earnings ratio of -166.14, a P/E/G ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO) last issued its quarterly earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) earnings per share for the quarter. Melrose Industries had a negative return on equity of 1.18% and a negative net margin of 1.13%. On average, research analysts expect that Melrose Industries PLC will post 33.9741641 EPS for the current year.

Insider Buying and Selling

In other Melrose Industries news, insider David Lis sold 7,950 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.31), for a total value of £44,997 ($58,143.17). Corporate insiders own 1.00% of the company’s stock.

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.