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Prices & Quotes - UK Markets - Melrose Industries (MRO)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 164.00p
Change Today:
-3.60p
Market Cap:
7,968m
Sector:
General Industrials

RBC Capital reiterates 'top pick' rating on Melrose

By Iain Gilbert

Date: Friday 30 Aug 2019

LONDON (ShareCast) - (Sharecast News) - Analysts at RBC Capital Markets stood by their 'top pick' rating on London-based turnaround specialist Melrose Industries on Friday, stating that "self-help" was set to remain the key driver of the group's value enhancement.
RBC expects Melrose's first-half figures to be in line with expectations, with a 6% decline in auto sales to be somewhat offset by cost savings, and noted that the second half of the group's trading year held plenty of upside potential as auto comparatives became easier.

The Canadian broker also pointed out that it did not see forecasts in automotive at Melrose needing "a significant pick up" in the run rate of auto production, but more simply just a stabilisation at lower levels.

With Melrose's aerospace unit acting as "a continued buffer", with strong sales growth having been reported across the peer group in the first half, RBC forecast a 2% increase in the unit's organic sales, with first-half margins at 8.4%.

Overall, RBC expected first-half group sales of 6.1bn from Melrose, underlying earnings of 500m and headline earnings per share of 6.2p.

Looking forward, although RBC pointed out that Melrose's management tends to allow a bit of leeway in their outlook comments, it still saw ample potential upside in the second half.

"We continue to see Melrose as an attractive self-help story and believe that markets worries around automotive risks are overdone creating a highly attractive valuation."

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MRO Market Data

Currency UK Pounds
Price 164.00p
Change Today -3.60p
52 Week High 248.50p
52 Week Low 74.36p
Volume 9,536,405
Shares Issued 4,858.25m
Market Cap 7,968m

Performance Indicators

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Operating Margin
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What The Brokers Say

Strong Buy 10
Buy 0
Neutral 3
Sell 0
Strong Sell 1
Total 14
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MRO Dividends

  Latest Previous
  Interim Final
Ex-Div 12-Sep-19 04-Apr-19
Paid 11-Oct-19 20-May-19
Amount 1.70p 3.05p

Trades for 04-Dec-2020

Time Volume / Share Price
16:42 450,000 @ 164.70p
16:35 3,805,087 @ 164.00p
16:29 287 @ 163.75p
16:29 3,814 @ 163.75p
16:29 1,500 @ 163.75p

MRO Key Personnel

CEO Simon Antony Peckham