Morgan Advanced Materials (LON:MGAM) Shares Down 16.2% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM)’s stock price fell 16.2% during trading on Saturday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). 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 ($3.22).

Wall Street Analysts Forecast Growth

Several brokerages have commented on MGAM. Royal Bank of Canada lowered their target price on shares of Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating for the company in a research note on Thursday, November 7th. Citigroup upped their price target on shares of Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Trading Down 16.2 %

The stock has a market cap of £604.67 million, a price-to-earnings ratio of 8.83, a PEG ratio of 0.51 and a beta of 1.34. 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 business’s 50 day simple moving average is GBX 265.32 and its 200 day simple moving average is GBX 270.85.

Morgan Advanced Materials (LON:MGAM) last announced its quarterly earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) EPS for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. On average, research analysts expect that Morgan Advanced Materials plc will post 32.5 EPS for the current fiscal year.

About Morgan Advanced Materials

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.