Shares of Morgan Advanced Materials plc (LON:MGAM - Get Free Report) fell 16.2% during mid-day trading on Saturday . The stock traded as low as GBX 198 ($2.55) and last traded at GBX 214.51 ($2.77). 8,720,610 shares were traded during trading, an increase of 451% from the average session volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.30).
Analysts Set New Price Targets
Several brokerages have issued reports on MGAM. Royal Bank of Canada cut their price objective on shares of Morgan Advanced Materials from GBX 320 ($4.12) to GBX 265 ($3.42) and set an "outperform" rating for the company in a research report on Monday. Citigroup raised their price objective on shares of Morgan Advanced Materials from GBX 325 ($4.19) to GBX 330 ($4.25) and gave the stock a "buy" rating in a research report on Thursday, January 23rd.
Check Out Our Latest Research Report on Morgan Advanced Materials
Morgan Advanced Materials Trading Up 2.3 %
The firm has a market cap of £620.15 million, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26. The firm's fifty day moving average is GBX 262.26 and its 200-day moving average is GBX 268.84.
Morgan Advanced Materials (LON:MGAM - Get Free Report) last posted its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.33) earnings per share for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. Equities analysts anticipate that Morgan Advanced Materials plc will post 32.5 earnings per share for the current year.
Morgan Advanced Materials Company Profile
(
Get Free Report)
Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.
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