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

Melrose Industries PLC (LON:MRO) shares were down 11.7% during trading 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 traded hands 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).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 850 ($10.99) price target on shares of Melrose Industries in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.27).

Melrose Industries Stock Performance

The firm has a market capitalization of £6.35 billion, a PE ratio of -166.14, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The firm has a 50-day moving average price of GBX 597.55 and a 200 day moving average price of GBX 531.47. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03.

Melrose Industries (LON:MRO) last released 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%. Research analysts expect that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Transactions at Melrose Industries

In other Melrose Industries news, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.32), for a total value of £44,997 ($58,158.20). 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.