Melrose Industries (MRO) Releases Earnings Results, Beats Expectations By $1.40 EPS

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Melrose Industries (LON:MRO) issued its quarterly earnings results on Thursday. The company reported GBX 5.80 ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of GBX 4.40 ($0.06) by GBX 1.40 ($0.02), Digital Look Earnings reports. Melrose Industries had a negative net margin of 4.58% and a negative return on equity of 4.75%.

MRO opened at GBX 236.30 ($3.05) on Thursday. Melrose Industries has a 52 week low of GBX 2.13 ($0.03) and a 52 week high of GBX 261.90 ($3.38).

In other Melrose Industries news, insider Archie Kane bought 50,000 shares of the stock in a transaction on Monday, June 25th. The stock was purchased at an average price of GBX 220 ($2.84) per share, with a total value of £110,000 ($141,898.86).

A number of brokerages recently weighed in on MRO. JPMorgan Chase & Co. raised their price target on shares of Melrose Industries from GBX 250 ($3.22) to GBX 260 ($3.35) and gave the company an “overweight” rating in a report on Monday, May 21st. Goldman Sachs Group lowered their price target on shares of Melrose Industries from GBX 380 ($4.90) to GBX 320 ($4.13) and set a “buy” rating for the company in a report on Monday, June 18th. Liberum Capital reaffirmed a “buy” rating on shares of Melrose Industries in a report on Thursday, May 10th. UBS Group lifted their target price on shares of Melrose Industries from GBX 250 ($3.22) to GBX 270 ($3.48) and gave the stock a “buy” rating in a report on Tuesday. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 240 ($3.10) target price on shares of Melrose Industries in a report on Monday, June 25th. Eight equities research analysts have rated the stock with a buy rating, Melrose Industries presently has a consensus rating of “Buy” and an average target price of GBX 265 ($3.42).

Melrose Industries Company Profile

Melrose Industries PLC, together with its subsidiaries, designs and manufactures electricity generating equipment for the power generation, industrial, oil and gas, and offshore sectors in the United Kingdom, Europe, North America, and internationally. It operates through four segments: Energy, Air Management, Security & Smart Technology, and Ergonomics.

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