Chemring Group (LON:CHG) Trading 10.3% Higher - Here's What Happened

Chemring Group PLC (LON:CHG - Get Free Report) rose 10.3% on Tuesday . The company traded as high as GBX 348.50 ($4.40) and last traded at GBX 347.50 ($4.39). 3,608,735 shares changed hands during mid-day trading, an increase of 81% from the average session volume of 1,997,234 shares. The stock had previously closed at GBX 315 ($3.98).

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a "buy" rating and set a GBX 470 ($5.94) price target on shares of Chemring Group in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, Chemring Group currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 429.50 ($5.43).

Chemring Group Price Performance

The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 27.42. The stock has a market capitalization of £961.76 million, a price-to-earnings ratio of 438.33, a P/E/G ratio of 1.99 and a beta of 0.68. The business's 50 day simple moving average is GBX 327.17 and its 200-day simple moving average is GBX 358.40.

Chemring Group (LON:CHG - Get Free Report) last posted its quarterly earnings results on Tuesday, December 17th. The company reported GBX 15.70 ($0.20) earnings per share (EPS) for the quarter. Chemring Group had a net margin of 0.64% and a return on equity of 0.88%. On average, research analysts forecast that Chemring Group PLC will post 24.8815166 earnings per share for the current year.

Chemring Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, March 20th will be paid a GBX 5.20 ($0.07) dividend. This is a positive change from Chemring Group's previous dividend of $2.60. The ex-dividend date of this dividend is Thursday, March 20th. This represents a dividend yield of 1.44%. Chemring Group's dividend payout ratio (DPR) is presently 857.06%.

Insider Transactions at Chemring Group

In related news, insider James Mortensen purchased 9,125 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of GBX 329 ($4.16) per share, with a total value of £30,021.25 ($37,929.56). 1.69% of the stock is owned by insiders.

About Chemring Group

We are a specialist manufacturing and technology business creating market-leading innovative solutions to meet our customers' complex needs. Using our extensive science and engineering expertise, we turn ideas into reality, designing and developing critical solutions that protect and safeguard in unpredictable environments in today's increasingly unstable world. We achieve this by innovating at every stage of the value chain, from research and development (“R&D”) through to design, manufacture and in-service support, working closely with our customers to deliver products, services and solutions for mission-critical success. Our customer base spans national defence organisations, security and law enforcement agencies, as well as commercial markets such as space and transport.