Morgan Advanced Materials (LON:MGAM) Announces Earnings Results

Key Points

• Morgan Advanced Materials reported earnings of GBX 10.80 ($0.15) per share for the quarter, with a return on equity of 19.02% and a net margin of 6.17%.
• The company's stock opened at GBX 197 ($2.65) and has a market capitalization of £555.31 million, with a price-to-earnings ratio of 8.11.
• Insiders sold a total of 93,951 shares worth over $20 million in the past three months, while analysts adjusted target prices downward, with Royal Bank of Canada setting a new target of GBX 250 ($3.36).

Morgan Advanced Materials (LON:MGAM - Get Free Report) issued its quarterly earnings data on Thursday. The company reported GBX 10.80 ($0.15) earnings per share (EPS) 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 Up 2.0%

Shares of Morgan Advanced Materials stock traded up GBX 3.90 ($0.05) on Tuesday, hitting GBX 201.50 ($2.71). 353,194 shares of the company's stock traded hands, compared to its average volume of 1,255,391. The stock has a market cap of £568.00 million, a P/E ratio of 8.29, a PEG ratio of 0.51 and a beta of 1.34. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31. The firm's 50-day moving average is GBX 219.93 and its 200 day moving average is GBX 219.40. Morgan Advanced Materials has a 52-week low of GBX 167 ($2.24) and a 52-week high of GBX 324.50 ($4.36).

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MGAM shares. Citigroup reduced their target price on Morgan Advanced Materials from GBX 265 ($3.56) to GBX 240 ($3.22) and set a "buy" rating for the company in a research note on Friday. Royal Bank Of Canada reduced their target price on Morgan Advanced Materials from GBX 275 ($3.69) to GBX 250 ($3.36) and set an "outperform" rating for the company in a research note on Thursday, August 7th.

Insider Activity at Morgan Advanced Materials

In related news, insider Damien Caby sold 15,016 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of GBX 212 ($2.85), for a total transaction of £31,833.92 ($42,758.79). Also, insider Richard Armitage sold 26,348 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of GBX 212 ($2.85), for a total value of £55,857.76 ($75,027.21). Corporate insiders own 1.69% of the company's stock.

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.