Morgan Advanced Materials (LON:MGAM) Shares Down 15.8% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM)’s stock price was down 15.8% on Friday . The stock traded as low as GBX 198 ($2.50) and last traded at GBX 215.49 ($2.72). Approximately 6,666,749 shares traded hands during mid-day trading, an increase of 334% from the average daily volume of 1,534,508 shares. The stock had previously closed at GBX 256 ($3.23).

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MGAM shares. Royal Bank of Canada lowered their price target on 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 Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the company a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Price Performance

The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The stock has a market capitalization of £604.67 million, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The firm has a 50-day moving average price of GBX 266.36 and a 200 day moving average price of GBX 271.51.

Morgan Advanced Materials (LON:MGAM) last announced its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.32) EPS for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. On average, analysts expect that Morgan Advanced Materials plc will post 32.5 EPS for the current year.

About Morgan Advanced Materials

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.