Morgan Advanced Materials (LON:MGAM) Sets New 12-Month High - Here's What Happened

Key Points

• Morgan Advanced Materials shares reached a new 52-week high of GBX 264 before closing at GBX 260, up slightly from the previous close, with 84,421 shares traded.
• Analyst sentiment remains mixed: two analysts rate the stock a Buy and three rate it Hold, producing a consensus Hold rating and a GBX 246 price target.
• The company reported quarterly EPS of GBX 10.70, while analysts expect full-year earnings of approximately GBX 32.50 per share; Morgan reported a 1.85% net margin and 5.79% return on equity.

Morgan Advanced Materials plc (LON:MGAM - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as GBX 264 and last traded at GBX 260, with a volume of 84421 shares changing hands. The stock had previously closed at GBX 259.50.

Wall Street Analysts Forecast Growth

MGAM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Morgan Advanced Materials from GBX 210 to GBX 235 and gave the stock a "hold" rating in a report on Wednesday, August 19th. Berenberg Bank restated a "buy" rating and issued a GBX 280 price target on shares of Morgan Advanced Materials in a research report on Wednesday, September 16th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a GBX 250 price target on shares of Morgan Advanced Materials in a research report on Friday, September 18th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of GBX 246.

Morgan Advanced Materials Trading Up 0.2%

The company has a current ratio of 1.36, a quick ratio of 1.26 and a debt-to-equity ratio of 127.17. The stock has a market cap of £718.68 million, a price-to-earnings ratio of 39.39, a P/E/G ratio of 0.51 and a beta of 1.22. The company has a fifty day simple moving average of GBX 237.49 and a 200-day simple moving average of GBX 223.07.

Morgan Advanced Materials (LON:MGAM - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported GBX 10.70 EPS for the quarter. Morgan Advanced Materials had a net margin of 1.85% and a return on equity of 5.79%. On average, research analysts forecast 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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.

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