Morgan Advanced Materials (LON:MGAM) Shares Pass Below Two Hundred Day Moving Average - What's Next?

Key Points

• Morgan Advanced Materials shares have dropped below their 200-day moving average, indicating potential bearish momentum in the stock's performance.
• Analysts have revised their price targets for MGAM, with Citigroup lowering it from GBX 265 to GBX 240 while maintaining a "buy" rating.
• The company's latest earnings report showed an EPS of GBX 10.80, with analysts predicting a total of 32.5 EPS for the current fiscal year.

Morgan Advanced Materials plc (LON:MGAM - Get Free Report) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 215.19 ($2.91) and traded as low as GBX 206.50 ($2.79). Morgan Advanced Materials shares last traded at GBX 214.50 ($2.90), with a volume of 527,793 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Royal Bank Of Canada cut their price objective on Morgan Advanced Materials from GBX 275 to GBX 250 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Citigroup decreased their price objective on Morgan Advanced Materials from GBX 265 to GBX 240 and set a "buy" rating for the company in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Morgan Advanced Materials currently has an average rating of "Moderate Buy" and an average target price of GBX 270.

Morgan Advanced Materials Stock Down 1.2%

The firm has a market cap of £594.78 million, a P/E ratio of 8.68, a price-to-earnings-growth 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 has a fifty day moving average of GBX 218.23 and a 200-day moving average of GBX 214.75.

Morgan Advanced Materials (LON:MGAM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported GBX 10.80 earnings per share (EPS) for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. On average, equities research analysts anticipate that Morgan Advanced Materials plc will post 32.5 earnings per share for the current 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.