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

Melrose Industries PLC (LON:MRO - Get Free Report) shares dropped 11.3% during trading on Thursday . The company traded as low as GBX 556.40 ($7.20) and last traded at GBX 603 ($7.81). 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 ($8.80).

Analysts Set New Price Targets

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

Melrose Industries Stock Up 6.5 %

The stock's fifty day moving average price is GBX 594.23 and its 200 day moving average price is GBX 531.57. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 44.03. The stock has a market cap of £6.69 billion, a P/E 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 earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) earnings per share (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, research analysts forecast that Melrose Industries PLC will post 33.9741641 earnings per share 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.