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

Melrose Industries PLC (LON:MRO) shares fell 11.7% during trading on Saturday . The stock traded as low as GBX 488.80 ($6.32) and last traded at GBX 491.24 ($6.35). 18,429,754 shares traded hands during mid-day trading, an increase of 92% from the average session volume of 9,600,518 shares. The stock had previously closed at GBX 556.40 ($7.19).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 850 ($10.99) target price on shares of Melrose Industries in a report on Thursday, January 23rd.

Melrose Industries Stock Down 11.7 %

The business’s 50-day moving average price is GBX 596.44 and its 200-day moving average price is GBX 531.51. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03. The firm has a market capitalization 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.

Melrose Industries (LON:MRO) last posted its quarterly 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 net margin of 1.13% and a negative return on equity of 1.18%. As a group, equities research analysts predict that Melrose Industries PLC will post 33.9741641 EPS for the current fiscal year.

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.