Filtronic (LON:FTC) Shares Down 8.5% – Here’s Why

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

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 440 price target on shares of Filtronic in a research note on Friday, October 2nd. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, Filtronic has a consensus rating of “Buy” and a consensus target price of GBX 440.

Filtronic Stock Performance

The stock has a 50-day simple moving average of GBX 250.01 and a 200-day simple moving average of GBX 278.78. The company has a market capitalization of £589.45 million, a price-to-earnings ratio of 150.56 and a beta of 1.02. The company has a current ratio of 1.89, a quick ratio of 2.13 and a debt-to-equity ratio of 13.80.

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