Morgan Advanced Materials (LON:MGAM) posted its quarterly earnings results on Tuesday. The company reported GBX 22.50 ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of GBX 21.30 ($0.29) by GBX 1.20 ($0.02), Bloomberg Earnings reports. The firm had revenue of £10,215 billion during the quarter. Morgan Advanced Materials had a net margin of 5.97% and a return on equity of 28.28%.
Shares of Morgan Advanced Materials (LON MGAM) traded down GBX 3.80 ($0.05) on Thursday, reaching GBX 334.20 ($4.62). 380,107 shares of the company’s stock traded hands, compared to its average volume of 343,877. Morgan Advanced Materials has a one year low of GBX 277.20 ($3.83) and a one year high of GBX 366.80 ($5.07). The firm has a market capitalization of $953.71 and a price-to-earnings ratio of 928.33.
Several research firms recently issued reports on MGAM. Numis Securities raised shares of Morgan Advanced Materials to an “add” rating and set a GBX 375 ($5.18) price target for the company in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Morgan Advanced Materials from GBX 325 ($4.49) to GBX 335 ($4.63) and gave the stock a “neutral” rating in a report on Wednesday. Liberum Capital reissued a “buy” rating and set a GBX 415 ($5.73) price target on shares of Morgan Advanced Materials in a report on Tuesday. Jefferies Group increased their price target on shares of Morgan Advanced Materials from GBX 330 ($4.56) to GBX 365 ($5.04) and gave the stock a “hold” rating in a report on Thursday, February 22nd. Finally, Peel Hunt restated a “buy” rating and set a GBX 430 ($5.94) target price on shares of Morgan Advanced Materials in a research report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 359.50 ($4.97).
About Morgan Advanced Materials
Morgan Advanced Materials plc, formerly The Morgan Crucible Company plc, is a United Kingdom-based engineering company. The Company is engaged in advanced materials science and engineering of ceramics, carbon and composites. The Company’s segments include North America, Europe and Asia/Rest of World.
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