Velocity Composites (LON:VEL) Releases Quarterly Earnings Results

Velocity Composites (LON:VEL) issued its earnings results on Wednesday. The company reported GBX (1.89) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Velocity Composites had a negative net margin of 5.24% and a negative return on equity of 20.69%. The firm had revenue of GBX 844 million during the quarter.

Velocity Composites Stock Performance

LON VEL opened at GBX 13.98 on Wednesday. The stock has a market cap of £7.64 million, a PE ratio of -6.99 and a beta of 1.14. The company has a debt-to-equity ratio of 69.71, a quick ratio of 2.66 and a current ratio of 1.49. The firm has a 50-day moving average of GBX 13.88 and a 200-day moving average of GBX 15.05. Velocity Composites has a 52-week low of GBX 11.50 and a 52-week high of GBX 33.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reissued a “buy” rating and set a GBX 40 price target on shares of Velocity Composites in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of GBX 40.

Velocity Composites Company Profile

Velocity Composites plc, together with its subsidiaries, offers engineered composite material kits to the aerospace industry in the United Kingdom, Europe, the United States, and internationally. It provides structural material kits, such as ply generation, shape management and configuration control, life management, and cutting and supply service, as well as materials comprising woven fabrics, unidirectional fabrics, impregnated metallic meshes, and film adhesives. The company also offers engineered vacuum bag material kits; and honeycomb, core potting compounds, and co-bonded materials, including hole potting compound kits, cut shape metallic foils and meshes for lightning strike protection/EMI shielding, honeycomb and foam core products, and kitted co-bonded films.