Melrose Industries (LON:MRO) Stock Price Down 11.7% – What’s Next?

Melrose Industries PLC (LON:MRO) dropped 11.7% during mid-day trading on Friday . The stock 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).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 850 ($10.98) price objective on shares of Melrose Industries in a report on Thursday, January 23rd.

Melrose Industries Stock Down 11.7 %

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 company 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. The firm’s 50-day simple moving average is GBX 596.44 and its 200 day simple moving average is GBX 531.51.

Melrose Industries (LON:MRO) last released its quarterly earnings data on Thursday, March 6th. The company reported GBX 26.80 ($0.35) 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 forecast that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Buying and Selling

In other Melrose Industries news, insider David Lis sold 7,950 shares of the business’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 transaction of £44,997 ($58,143.17). Insiders own 1.00% of the company’s stock.

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.