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

Morgan Advanced Materials plc (LON:MGAM) shares fell 16.2% on Saturday . The company traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). 8,720,610 shares traded hands 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

A number of research firms recently issued reports on MGAM. Royal Bank of Canada reduced their target price on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Citigroup upped their target price on Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a research note on Thursday, January 23rd.

Morgan Advanced Materials Trading Down 16.2 %

The company has a market cap of £604.67 million, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The business has a 50 day simple moving average of GBX 265.32 and a two-hundred day simple moving average of GBX 270.85.

Morgan Advanced Materials (LON:MGAM) last released its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.32) EPS for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. On average, analysts forecast 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.