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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 178.85p
Change Today:
4.30p
Market Cap:
8,689m
Sector:
General Industrials

JPMorgan downgrades Bodycote, cites near-term pressures

By Michele Maatouk

Date: Monday 30 Nov 2020

LONDON (ShareCast) - (Sharecast News) - JPMorgan Cazenove downgraded heat treatments supplier Bodycote on Monday to 'underweight' from 'neutral' and cut the price target 635p from 670p as it argued that near-term pressures will weigh on the stock.
"We believe Bodycote has been fundamentally improved by the current management team, reflected in a higher through-cycle margin, and we expect progress to continue in the coming years," JPM said. "However, we see the full delivery of this upside as longer-dated."

In the near term, JPM expects the shares to come under pressure from a slower-than-expected earnings recovery and the need for a consensus reset.

The bank cut its 2020/2021/2022 adjusted EBITA forecasts by 8%/15%/5% to a level "well below" standing consensus and said it prefers overweight-rated Melrose Industries for investors looking to play a recovery in the automotive/aerospace industry.

JPM noted that Bodycote's third-quarter trading update confirmed trading remains under the cosh, with organic sales still declining more than 20% year-on-year.

"Aerospace is the primary area of weakness but, despite sequential improvement, each of Automotive and General Industrial and Energy still declined double-digit," it said.

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 178.85p
Change Today 4.30p
52 Week High 186.75p
52 Week Low 81.96p
Volume 8,848,233
Shares Issued 4,858.25m
Market Cap 8,689m
Beta 0.04

Performance Indicators

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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
  Final Interim
Ex-Div 01-Apr-21 12-Sep-19
Paid 19-May-21 11-Oct-19
Amount 0.75p 1.70p

Trades for 16-Apr-2021

Time Volume / Share Price
16:35 2,988,531 @ 178.85p
16:29 2,529 @ 178.50p
16:29 21 @ 178.40p
16:29 81 @ 178.45p
16:29 12 @ 178.45p

MRO Key Personnel

CEO Simon Antony Peckham
COO Peter Dilnot