Morgan Advanced Materials (LON:MGAM) Releases Earnings Results

Morgan Advanced Materials (LON:MGAM) issued its earnings results on Friday. The company reported GBX 25.50 ($0.32) earnings per share for the quarter, Digital Look Earnings reports. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%.

Morgan Advanced Materials Stock Down 16.2 %

Morgan Advanced Materials stock opened at GBX 214.51 ($2.70) on Friday. The company has a 50-day simple moving average of GBX 265.32 and a 200-day simple moving average of GBX 270.56. The firm has a market capitalization of £604.67 million, a P/E ratio of 8.83, a P/E/G ratio of 0.51 and a beta of 1.34. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. Morgan Advanced Materials has a one year low of GBX 198 ($2.49) and a one year high of GBX 347 ($4.36).

Analyst Ratings Changes

A number of analysts have weighed in on MGAM shares. Citigroup increased their target price on shares of Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the stock a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada lowered their price target 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 report on Thursday, November 7th.

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.