Morgan Advanced Materials plc (LON:MGAM - Get Free Report) dropped 16.2% on Saturday . The stock traded as low as GBX 198 ($2.55) and last traded at GBX 214.51 ($2.77). Approximately 8,720,610 shares traded hands during trading, an increase of 451% from the average daily volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.30).
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on MGAM. Citigroup increased their price target on Morgan Advanced Materials from GBX 325 ($4.19) to GBX 330 ($4.25) and gave the company a "buy" rating in a research note on Thursday, January 23rd. Royal Bank of Canada decreased their price target on Morgan Advanced Materials from GBX 320 ($4.12) to GBX 265 ($3.42) and set an "outperform" rating for the company in a report on Monday.
Get Our Latest Research Report on Morgan Advanced Materials
Morgan Advanced Materials Price Performance
The firm's 50-day moving average is GBX 262.26 and its 200-day moving average is GBX 268.84. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31. The company has a market capitalization of £620.15 million, a PE ratio of 9.05, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34.
Morgan Advanced Materials (LON:MGAM - Get Free Report) last announced 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 predict that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal year.
Morgan Advanced Materials Company Profile
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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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