Morgan Advanced Materials (LON:MGAM) Stock Price Down 14.6% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM)’s share price dropped 14.6% during mid-day trading on Friday . The company traded as low as GBX 198 ($2.49) and last traded at GBX 218.73 ($2.75). Approximately 7,247,775 shares were traded during trading, an increase of 368% from the average daily volume of 1,548,342 shares. The stock had previously closed at GBX 256 ($3.22).

Wall Street Analysts Forecast Growth

Several brokerages have commented on MGAM. Citigroup increased their price target on 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. 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 on the stock in a research note on Thursday, November 7th.

Morgan Advanced Materials Stock Down 16.2 %

The firm has a 50-day moving average of GBX 266.36 and a two-hundred day moving average of GBX 271.51. The firm 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 current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31.

Morgan Advanced Materials (LON:MGAM) last issued 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 return on equity of 19.02% and a net margin of 6.17%. As a group, sell-side analysts predict that Morgan Advanced Materials plc will post 32.5 earnings per share 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.