Melrose Industries (LON:MRO) Trading Down 11.7% - Here's Why

Melrose Industries PLC (LON:MRO - Get Free Report)'s share price dropped 11.7% during mid-day trading on Saturday . The company traded as low as GBX 488.80 ($6.34) and last traded at GBX 491.24 ($6.37). 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 ($7.22).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a GBX 850 ($11.02) target price on shares of Melrose Industries in a research report on Thursday, January 23rd.

Melrose Industries Price Performance

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. 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 50-day moving average price of GBX 593.52 and a 200-day moving average price of GBX 531.78.

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%. On average, analysts forecast that Melrose Industries PLC will post 33.9741641 earnings per share 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.