Melrose Industries (LON:MRO) Shares Down 11.7% - Here's What Happened

Melrose Industries PLC (LON:MRO - Get Free Report)'s share price was down 11.7% on Saturday . The stock traded as low as GBX 488.80 ($6.33) and last traded at GBX 491.24 ($6.36). Approximately 18,429,754 shares changed 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 ($7.20).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reissued an "overweight" rating and issued a GBX 850 ($11.00) price objective on shares of Melrose Industries in a report on Thursday, January 23rd.

Melrose Industries Price Performance

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 stock's 50 day moving average price is GBX 594.23 and its two-hundred day moving average price is GBX 531.57. The stock has a market cap of £6.69 billion, a price-to-earnings ratio of -175.19, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO - Get Free Report) 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 return on equity of 1.18% and a negative net margin of 1.13%. Equities research analysts forecast 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.