Chemring Group (LON:CHG) Stock Price Down 13% – Here’s Why

Chemring Group PLC (LON:CHG) fell 13% during trading on Tuesday . The stock traded as low as GBX 314.50 ($3.93) and last traded at GBX 314.50 ($3.93). 3,617,586 shares were traded during mid-day trading, an increase of 365% from the average session volume of 777,681 shares. The stock had previously closed at GBX 361.50 ($4.52).

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 470 ($5.87) price target on shares of Chemring Group in a research note on Tuesday. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 429.50 ($5.37).

Chemring Group Trading Down 0.2 %

The firm has a 50-day moving average of GBX 359.63 and a two-hundred day moving average of GBX 377.31. The firm has a market capitalization of £871.33 million, a P/E ratio of 2,922.73, a P/E/G ratio of 1.99 and a beta of 0.68. The company has a current ratio of 1.27, a quick ratio of 0.71 and a debt-to-equity ratio of 22.77.

Chemring Group Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, March 20th will be given a GBX 5.20 ($0.06) dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a dividend yield of 1.44%. This is an increase from Chemring Group’s previous dividend of $2.60. Chemring Group’s payout ratio is 6,363.64%.

Insider Transactions at Chemring Group

In other Chemring Group news, insider James Mortensen purchased 9,125 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of GBX 329 ($4.11) per share, for a total transaction of £30,021.25 ($37,521.87). Insiders own 1.69% of the company’s stock.

Chemring Group Company Profile

Chemring Group PLC provides countermeasures, sensors, information, and energetic products in the United States, the United Kingdom, Europe, the Asia pacific, and internationally. The company offers sensors and information products, such as point chemical detector, sensor, JSLSCAD, and I-SCAD; miniature radar altimeter, R Visor, 3D radars, husky mounted detection system, groundshark, MDS-10, and groundhunters; resolve, locate, LOCATE-T, and viper products; and advisory, research, and design and engineering services.