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

Morgan Advanced Materials plc (LON:MGAM) dropped 15.8% during trading 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 were traded during 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

MGAM has been the subject of several recent research reports. Royal Bank of Canada decreased their price objective on Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating for the company in a report on Thursday, November 7th. Citigroup upped their price objective on Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the company a “buy” rating in a research note on Thursday, January 23rd.

Morgan Advanced Materials Price Performance

The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The business has a 50-day moving average price of GBX 266.36 and a 200 day moving average price of GBX 271.51. The stock has a market cap of £604.67 million, a PE ratio of 8.83, a PEG ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last issued 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%. As a group, research analysts forecast that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal 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.