Royal Bank of Canada Issues Pessimistic Forecast for Morgan Advanced Materials (LON:MGAM) Stock Price

Morgan Advanced Materials (LON:MGAM) had its price objective lowered by Royal Bank of Canada from GBX 320 ($4.09) to GBX 265 ($3.39) in a note issued to investors on Monday,Digital Look reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 23.26% from the company’s previous close.

Separately, Citigroup boosted their price objective on Morgan Advanced Materials from GBX 325 ($4.16) to GBX 330 ($4.22) and gave the stock a “buy” rating in a research report on Thursday, January 23rd.

Morgan Advanced Materials Stock Up 0.5 %

LON:MGAM opened at GBX 215 ($2.75) on Monday. The firm has a market capitalization of £606.05 million, a PE ratio of 8.85, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The stock has a 50 day moving average of GBX 263.22 and a 200-day moving average of GBX 269.48. Morgan Advanced Materials has a 52 week low of GBX 198 ($2.53) and a 52 week high of GBX 347 ($4.44). The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31.

Morgan Advanced Materials (LON:MGAM) last issued its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.33) 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%. Analysts predict that Morgan Advanced Materials 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.