Johnson Matthey (LON:JMAT) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Johnson Matthey PLC's shares recently crossed above the 200-day moving average, trading as high as GBX 1,763 ($23.55) before closing at GBX 1,759 ($23.50).
• Berenberg Bank raised its target price for Johnson Matthey from GBX 1,800 ($24.04) to GBX 1,950 ($26.05), maintaining a "hold" rating.
• The company reported earnings per share of GBX 149.20 ($1.99) for the last quarter, with predictions of 173.41 for the current year.

Johnson Matthey PLC (LON:JMAT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,513.75 ($20.35) and traded as high as GBX 1,763 ($23.70). Johnson Matthey shares last traded at GBX 1,759 ($23.65), with a volume of 320,966 shares changing hands.

Analyst Ratings Changes

Separately, Berenberg Bank increased their price objective on Johnson Matthey from GBX 1,800 ($24.20) to GBX 1,950 ($26.22) and gave the stock a "hold" rating in a research report on Monday, July 21st.

Johnson Matthey Stock Down 0.6%

The company has a market capitalization of £2.95 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 49,242.50 and a beta of 0.95. The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 62.73. The firm has a 50-day moving average of GBX 1,778.08 and a two-hundred day moving average of GBX 1,521.41.

Johnson Matthey (LON:JMAT - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The company reported GBX 149.20 ($2.01) EPS for the quarter. Johnson Matthey had a return on equity of 4.49% and a net margin of 0.84%. Equities research analysts predict that Johnson Matthey PLC will post 173.4112903 earnings per share for the current fiscal year.

About Johnson Matthey

Johnson Matthey is a global leader in science that enables a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, they improve the function, performance and safety of their customers' products. Their science has a global impact in areas such as low emission transport, pharmaceuticals, chemical processing and making the most efficient use of the planet's natural resources.