Velocity Composites (LON:VEL) Announces Earnings Results

Velocity Composites (LON:VEL) issued its earnings results on Wednesday. The company reported GBX (1.89) earnings per share for the quarter, Digital Look Earnings reports. Velocity Composites had a negative return on equity of 20.69% and a negative net margin of 5.24%.The firm had revenue of GBX 844 million during the quarter.

Velocity Composites Price Performance

Shares of LON:VEL opened at GBX 13.25 on Thursday. The firm has a market capitalization of £7.24 million, a PE ratio of -6.62 and a beta of 1.14. The company has a current ratio of 1.49, a quick ratio of 2.66 and a debt-to-equity ratio of 69.71. Velocity Composites has a 1-year low of GBX 11.50 and a 1-year high of GBX 33. The business’s 50 day moving average is GBX 13.90 and its 200-day moving average is GBX 15.04.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 40 target price on shares of Velocity Composites in a report on Wednesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 40.

Velocity Composites Company Profile

Velocity Composites plc, together with its subsidiaries, offers engineered composite material kits to the aerospace industry in the United Kingdom, Europe, the United States, and internationally. It provides structural material kits, such as ply generation, shape management and configuration control, life management, and cutting and supply service, as well as materials comprising woven fabrics, unidirectional fabrics, impregnated metallic meshes, and film adhesives. The company also offers engineered vacuum bag material kits; and honeycomb, core potting compounds, and co-bonded materials, including hole potting compound kits, cut shape metallic foils and meshes for lightning strike protection/EMI shielding, honeycomb and foam core products, and kitted co-bonded films.