Melrose Industries (LON:MRO) Shares Down 11.7% – Here’s What Happened

Melrose Industries PLC (LON:MRO)’s share price dropped 11.7% on Saturday . The company 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 mid-day 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).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 850 ($10.98) price objective 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of GBX 640 ($8.27).

Melrose Industries Price Performance

The company has a market cap 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 company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86. The stock has a 50 day moving average of GBX 597.55 and a 200-day moving average of GBX 531.47.

Melrose Industries (LON:MRO) last issued 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%. Equities analysts predict that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Buying and Selling

In related news, insider David Lis sold 7,950 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.31), for a total value of £44,997 ($58,143.17). 1.00% of the stock is currently owned by company insiders.

About Melrose Industries

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.