Melrose Industries (LON:MRO) Stock Price Down 16.5% - Here's What Happened

Shares of Melrose Industries PLC (LON:MRO - Get Free Report) were down 16.5% during mid-day trading on Thursday . The stock traded as low as GBX 563 ($7.25) and last traded at GBX 567.80 ($7.31). Approximately 50,016,828 shares changed hands during trading, an increase of 393% from the average daily volume of 10,147,989 shares. The stock had previously closed at GBX 680 ($8.75).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. restated an "overweight" rating and set a GBX 850 ($10.94) price objective on shares of Melrose Industries in a report on Thursday, January 23rd.

Melrose Industries Stock Down 0.3 %

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 firm has a fifty day simple moving average of GBX 595.37 and a 200-day simple moving average of GBX 531.53. The company has a market capitalization of £6.33 billion, a PE ratio of -165.72, a P/E/G ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO - Get Free Report) last posted 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%. Equities research analysts anticipate 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.