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

Shares of Melrose Industries PLC (LON:MRO) were down 11.7% during trading 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 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. reiterated an “overweight” rating and set a GBX 850 ($10.99) target price on shares of Melrose Industries in a research note on Thursday, January 23rd.

Melrose Industries Trading Down 11.7 %

The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45. The business’s 50 day moving average is GBX 596.44 and its 200 day moving average is GBX 531.51. The stock has a market cap of £6.35 billion, a price-to-earnings ratio of -166.14, a P/E/G ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO) last announced its quarterly earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) earnings per share for the quarter. Melrose Industries had a negative net margin of 1.13% and a negative return on equity of 1.18%. As a group, equities analysts expect that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Melrose Industries Company Profile

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.