Morgan Advanced Materials (LON:MGAM) Issues Earnings Results

Morgan Advanced Materials (LON:MGAM) posted its quarterly earnings results on Friday. The company reported GBX 25.50 ($0.32) EPS for the quarter, Digital Look Earnings reports. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%.

Morgan Advanced Materials Trading Down 16.2 %

Shares of MGAM traded down GBX 41.49 ($0.52) during midday trading on Friday, hitting GBX 214.51 ($2.70). The stock had a trading volume of 8,720,610 shares, compared to its average volume of 1,583,410. The business has a 50-day simple moving average of GBX 266.36 and a two-hundred day simple moving average of GBX 271.51. The firm has a market cap of £604.67 million, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. 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 has a fifty-two week low of GBX 198 ($2.50) and a fifty-two week high of GBX 347 ($4.37).

Analyst Upgrades and Downgrades

MGAM has been the topic of several research reports. Citigroup raised their price objective on Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the company a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reduced their price target on shares of Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating for the company in a report on Thursday, November 7th.

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.