Morgan Advanced Materials (LON:MGAM) Shares Down 16.3% – Here’s Why

Shares of Morgan Advanced Materials plc (LON:MGAM) dropped 16.3% during mid-day trading on Friday . The company traded as low as GBX 198 ($2.50) and last traded at GBX 214.30 ($2.70). Approximately 6,458,723 shares changed hands during mid-day trading, an increase of 322% from the average daily volume of 1,529,555 shares. The stock had previously closed at GBX 256 ($3.23).

Analyst Upgrades and Downgrades

MGAM has been the subject of several research analyst reports. Citigroup raised their price objective on shares of Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the stock a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada lowered their target price on Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating for the company in a research note on Thursday, November 7th.

Morgan Advanced Materials Stock Down 16.2 %

The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The stock’s 50-day moving average price is GBX 266.36 and its two-hundred day moving average price is GBX 271.51. The stock has a market capitalization of £604.67 million, a PE ratio of 8.83, a P/E/G ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last announced its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. As a group, analysts expect 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.