Morgan Advanced Materials (MGAM)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

312.00p
   
  • Change Today:
      3.50p
  • 52 Week High: 331.00
  • 52 Week Low: 218.50
  • Currency: UK Pounds
  • Shares Issued: 285.37m
  • Volume: 21,321
  • Market Cap: £890.35m

Morgan Advanced Materials lays out growth plans

By Josh White

Date: Wednesday 24 Apr 2024

LONDON (ShareCast) - (Sharecast News) - Morgan Advanced Materials updated the market on its financial goals on Wednesday, as it aimed to surpass organic revenue growth rates through a combination of organic expansion, strategic mergers and acquisitions, and shareholder value creation.
The FTSE 250 company, which was holding its capital markets day, said in terms of organic revenue growth, it was aiming towards the upper end of its 4% to 7% per annum guidance range over the next four years through strategic investments.

It added that it was looking to achieve an attractive adjusted operating profit margin ranging between 12.5% and 15%, with a clear path towards the higher end of that spectrum.

The company was also aiming to sustain a robust return on invested capital (ROIC) in the range of 17% to 20%.

Additionally, Morgan Advanced Materials said it intended to maintain a prudent leverage range between 1.0x and 1.5x, or up to 2.0x adjusted EBITDA post-acquisition.

That approach would leverage the company's solid balance sheet to fund organic growth initiatives and strategic acquisitions.

At 1137 BST, shares in Morgan Advanced Materials were up 1.51% at 303p.

Reporting by Josh White for Sharecast.com.

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MGAM Market Data

Currency UK Pounds
Share Price 312.00p
Change Today 3.50p
% Change 1.13 %
52 Week High 331.00
52 Week Low 218.50
Volume 21,321
Shares Issued 285.37m
Market Cap £890.35m

MGAM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
67.96% above the market average67.96% above the market average67.96% above the market average67.96% above the market average67.96% above the market average
94.44% above the sector average94.44% above the sector average94.44% above the sector average94.44% above the sector average94.44% above the sector average
Price Trend
54.47% above the market average54.47% above the market average54.47% above the market average54.47% above the market average54.47% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Income
51.45% above the market average51.45% above the market average51.45% above the market average51.45% above the market average51.45% above the market average
85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average
Growth
82.17% below the market average82.17% below the market average82.17% below the market average82.17% below the market average82.17% below the market average
94.29% below the sector average94.29% below the sector average94.29% below the sector average94.29% below the sector average94.29% below the sector average

What The Brokers Say

Strong Buy 4
Buy 3
Neutral 3
Sell 0
Strong Sell 0
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MGAM Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 26-Oct-23
Paid 17-May-24 17-Nov-23
Amount 6.70p 5.30p

Trades for 18-Jun-2024

Time Volume / Share Price
12:20 76 @ 312.00p
12:20 135 @ 312.00p
12:20 26 @ 312.00p
12:20 74 @ 312.00p
11:52 3,750 @ 311.30p

MGAM Key Personnel

CEO Pete Raby
CFO Richard Armitage

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