Brokerages Set Morgan Advanced Materials PLC (MGAM) PT at $342.86

Shares of Morgan Advanced Materials PLC (LON:MGAM) have earned an average rating of “Hold” from the nine research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is GBX 342.86 ($4.48).

Several research analysts recently weighed in on MGAM shares. JPMorgan Chase & Co. dropped their price objective on shares of Morgan Advanced Materials from GBX 410 ($5.36) to GBX 345 ($4.51) and set an “overweight” rating for the company in a research report on Tuesday, December 4th. Bank of America dropped their price objective on shares of Morgan Advanced Materials from GBX 310 ($4.05) to GBX 250 ($3.27) and set an “underperform” rating for the company in a research report on Tuesday, January 8th. Berenberg Bank dropped their price objective on shares of Morgan Advanced Materials from GBX 420 ($5.49) to GBX 360 ($4.70) and set a “buy” rating for the company in a research report on Tuesday, January 29th. Peel Hunt dropped their price objective on shares of Morgan Advanced Materials from GBX 430 ($5.62) to GBX 350 ($4.57) and set a “buy” rating for the company in a research report on Monday, February 11th. Finally, HSBC dropped their price objective on shares of Morgan Advanced Materials from GBX 400 ($5.23) to GBX 350 ($4.57) and set a “buy” rating for the company in a research report on Wednesday, February 27th.

MGAM stock traded up GBX 4.24 ($0.06) during trading on Thursday, hitting GBX 251.04 ($3.28). The company had a trading volume of 155,694 shares, compared to its average volume of 413,500. The company has a debt-to-equity ratio of 89.32, a current ratio of 1.35 and a quick ratio of 0.87. Morgan Advanced Materials has a 12 month low of GBX 233.80 ($3.06) and a 12 month high of GBX 370 ($4.83). The stock has a market capitalization of $703.76 million and a PE ratio of 15.50.

The firm also recently announced a dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, May 2nd will be issued a dividend of GBX 7 ($0.09) per share. This represents a yield of 2.61%. The ex-dividend date is Thursday, May 2nd. This is a positive change from Morgan Advanced Materials’s previous dividend of $4.00. Morgan Advanced Materials’s payout ratio is currently 0.68%.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as an advanced materials science and engineering company that focuses on ceramics, carbon, and composites primarily in the United Kingdom. The company offers insulating fiber, board, paper, brick, and monolithic products; crucibles for metals processing; electrical carbon and graphite products; seals and bearings; ceramic cores for investment casting; structural ceramics; and ballistic protection products, as well as braze alloys.

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Analyst Recommendations for Morgan Advanced Materials (LON:MGAM)

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