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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:
Up 159.30p
Change Today:
0.30p
Market Cap:
7,739m
Sector:
General Industrials

Barclays says Melrose Industries down but not out, stays at 'overweight'

By Alexander Bueso

Date: Friday 24 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Barclays lowered their estimates for Melrose Industries but kept their recommendation for the shares, telling clients that a recovery in its automobile segment in 2021 might result in "upside surprises".
Following the turnaround specialist's trading update the day before, Barclays cut its forecast for 2020 earnings before interest, taxes and amortisation at the aerospace unit by 46% to 199m with a 26:74 split between the two halves of the year.

Furthermore, the anticipated return to profit in 2021 was expected to be underpinned by cost savings while year-on-year top-line growth was expected to remain "minimal".

For the company's automotive and powder metallurgical arm on the other hand, Barclays estimated that organic sales were set to rise 11% in 2021.

Cost out actions were expected to support the bottom line further, so that 2021 group EBITA was seen down by a more modest 11% to 592m.

Most important however, the broker's analysts said that their base GLVP growth forecast of 16% for 2021 meant that there was scope for upside surprises.

Barclays kept its recommendation on Melrose Industries's shares at 'overweight' with a target price of 155.0p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MRO Market Data

Currency UK Pounds
Price 159.30p
Change Today 0.30p
52 Week High 248.50p
52 Week Low 74.36p
Volume 17,064,766
Shares Issued 4,858.25m
Market Cap 7,739m

Performance Indicators

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What The Brokers Say

Strong Buy 11
Buy 0
Neutral 2
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 27-Nov-2020

Time Volume / Share Price
16:35 10,508,063 @ 159.30p
16:29 7 @ 160.20p
16:29 8 @ 160.20p
16:29 6 @ 160.20p
16:29 18 @ 160.20p

MRO Key Personnel

CEO Simon Antony Peckham