Chemring Group (LON:CHG) Stock Price Down 13% – What’s Next?

Chemring Group PLC (LON:CHG)’s stock price dropped 13% during mid-day trading on Tuesday . The stock traded as low as GBX 314.50 ($3.93) and last traded at GBX 314.50 ($3.93). Approximately 3,617,586 shares traded hands during trading, an increase of 365% from the average daily volume of 777,681 shares. The stock had previously closed at GBX 361.50 ($4.52).

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 470 ($5.87) target price on shares of Chemring Group in a research report on Tuesday. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 429.50 ($5.37).

Chemring Group Stock Down 0.2 %

The company has a quick ratio of 0.71, a current ratio of 1.27 and a debt-to-equity ratio of 22.77. The company has a market capitalization of £871.33 million, a price-to-earnings ratio of 2,922.73, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68. The business has a 50-day moving average price of GBX 359.63 and a 200-day moving average price of GBX 377.31.

Chemring Group Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, March 20th will be paid a dividend of GBX 5.20 ($0.06) per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a dividend yield of 1.44%. This is a positive change from Chemring Group’s previous dividend of $2.60. Chemring Group’s dividend payout ratio (DPR) is 6,363.64%.

Insider Buying and Selling at Chemring Group

In other Chemring Group news, insider James Mortensen bought 9,125 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of GBX 329 ($4.11) per share, for a total transaction of £30,021.25 ($37,521.87). Corporate insiders own 1.69% of the company’s stock.

Chemring Group Company Profile

Chemring Group PLC provides countermeasures, sensors, information, and energetic products in the United States, the United Kingdom, Europe, the Asia pacific, and internationally. The company offers sensors and information products, such as point chemical detector, sensor, JSLSCAD, and I-SCAD; miniature radar altimeter, R Visor, 3D radars, husky mounted detection system, groundshark, MDS-10, and groundhunters; resolve, locate, LOCATE-T, and viper products; and advisory, research, and design and engineering services.