Melrose Industries (LON:MRO) Trading Down 11.3% - Here's What Happened

Melrose Industries PLC (LON:MRO - Get Free Report)'s share price dropped 11.3% on Thursday . The company traded as low as GBX 556.40 ($7.19) and last traded at GBX 603 ($7.79). Approximately 16,228,400 shares traded hands during trading, an increase of 72% from the average daily volume of 9,413,459 shares. The stock had previously closed at GBX 680 ($8.79).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reiterated an "overweight" rating and set a GBX 850 ($10.99) price objective on shares of Melrose Industries in a research report on Thursday, January 23rd.

Melrose Industries Trading Down 0.3 %

The stock has a market capitalization of £6.33 billion, a price-to-earnings ratio of -165.72, a P/E/G ratio of 0.48 and a beta of 1.51. The company has a 50 day moving average of GBX 596.44 and a 200 day moving average of GBX 531.51. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86.

Melrose Industries (LON:MRO - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported GBX 26.80 ($0.35) earnings per share (EPS) for the quarter. Melrose Industries had a negative return on equity of 1.18% and a negative net margin of 1.13%. On average, research analysts predict that Melrose Industries PLC will post 33.9741641 EPS for the current fiscal year.

Melrose Industries Company Profile

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.