Morgan Advanced Materials (LON:MGAM) Shares Down 16.2% - Here's What Happened

Shares of Morgan Advanced Materials plc (LON:MGAM - Get Free Report) fell 16.2% during trading on Saturday . The company traded as low as GBX 198 ($2.55) and last traded at GBX 214.51 ($2.77). 8,720,610 shares were traded during mid-day 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).

Analyst Ratings Changes

A number of brokerages recently commented on MGAM. Citigroup raised their price target on Morgan Advanced Materials from GBX 325 ($4.19) to GBX 330 ($4.25) and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Royal Bank of Canada dropped 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 research note on Monday.

Morgan Advanced Materials Stock Performance

The business has a fifty day simple moving average of GBX 262.26 and a 200-day simple moving average of 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 firm has a market cap of £620.15 million, a P/E ratio of 9.05, a P/E/G ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.33) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. On average, sell-side analysts predict that Morgan Advanced Materials plc will post 32.5 EPS for the current fiscal year.

Morgan Advanced Materials Company Profile

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.