Filtronic (LON:FTC) Stock Falls 8.5% – Here’s What Happened

Filtronic plc (LON:FTC) traded down 8.5% on Tuesday. The stock traded as low as GBX 265 and last traded at GBX 268. 1,021,201 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 2,659,014 shares. The stock had previously closed at GBX 293.

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 440 price target on shares of Filtronic in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of GBX 440.

Filtronic Price Performance

The company has a market capitalization of £567.89 million, a P/E ratio of 145.06 and a beta of 1.02. The business’s 50-day moving average price is GBX 251.43 and its 200 day moving average price is GBX 280.05. The company has a quick ratio of 2.13, a current ratio of 1.89 and a debt-to-equity ratio of 13.80.

Filtronic (LON:FTC) last posted its quarterly earnings results on Tuesday, August 4th. The company reported GBX 2.07 earnings per share (EPS) for the quarter. Filtronic had a return on equity of 11.47% and a net margin of 8.21%. Analysts anticipate that Filtronic plc will post 3.07 EPS for the current fiscal year.

Filtronic Company Profile

For leading global telecommunications, space, aerospace, and defence organisations, Filtronic provides the design and manufacturing of complex high-frequency, communication solutions. In today’s data-driven world, Filtronic excels in transmitting vast amounts of analog data quickly and accurately over long distances. Our advanced solutions enhance connectivity, optimise bandwidth, and minimise latency. As pioneers in high-frequency mmWave technology, we tackle the toughest challenges in the market, which is why global tech leaders choose Filtronic for unmatched expertise and innovative solutions.