Shares of Morgan Advanced Materials plc (LON:MGAM - Get Free Report) dropped 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). Approximately 8,720,610 shares changed 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 Analyst Weigh In
MGAM has been the topic of several research reports. Citigroup upped 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 report on Thursday, January 23rd. Royal Bank of Canada dropped their target price on Morgan Advanced Materials from GBX 320 ($4.12) to GBX 265 ($3.42) and set an "outperform" rating on the stock in a research report on Monday.
View Our Latest Analysis on Morgan Advanced Materials
Morgan Advanced Materials Price Performance
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 company has a 50-day simple moving average of GBX 262.26 and a two-hundred day simple moving average of GBX 268.84. The stock has a market capitalization 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.
Morgan Advanced Materials (LON:MGAM - Get Free Report) last issued 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 return on equity of 19.02% and a net margin of 6.17%. On average, equities research analysts predict that Morgan Advanced Materials plc will post 32.5 earnings per share for the current year.
About Morgan Advanced Materials
(
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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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