Morgan Advanced Materials (LON:MGAM) Trading Down 16.2% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) shares dropped 16.2% during trading on Saturday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). Approximately 8,720,610 shares were traded during trading, an increase of 451% from the average daily volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.22).

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MGAM shares. Royal Bank of Canada lowered their target price on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating for the company in a report on Thursday, November 7th. Citigroup upped their price objective on shares of Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the stock a “buy” rating in a research note on Thursday, January 23rd.

Morgan Advanced Materials Stock Performance

The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26. The company has a market cap of £604.67 million, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The business has a fifty day simple moving average of GBX 265.32 and a two-hundred day simple moving average of GBX 270.85.

Morgan Advanced Materials (LON:MGAM) last released its quarterly earnings results 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%. Research analysts anticipate that Morgan Advanced Materials plc will post 32.5 earnings per share for the current year.

Morgan Advanced Materials Company Profile

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.