Meggitt (MGGT)

Sector:

Defense and Aeronautics

Index:

FTSE 100

281.50p
   
  • Change Today:
      13.10p
  • 52 Week High: 697.40
  • 52 Week Low: 217.00
  • Currency: UK Pounds
  • Shares Issued: 777.57m
  • Volume: 6,033,361
  • Market Cap: £2,188.86m
  • RiskGrade: 637

Meggitt says FY operating margins to be at lower end of guidance

By Frank Prenesti

Date: Tuesday 12 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Aerospace engineer Meggitt upgraded its full year revenue forecasts but said operating margins would be at the lower end of guidance due to the Boeing 737MAX groundings and supply chain pressure as aircraft production increased.
The company on Tuesday reported a stronger than anticipated third quarter trading performance and despite being held back by the 737MAX issue.

Third quarter revenue grew 11%, driven by all end market segments, particularly its defence unit. Full year revenue growth guidance was lifted to 6 - 7% from 4 - 6%.

Civil Aftermarket revenues grew by 4% in the third quarter, where Meggitt delivered "good growth in large jets against a backdrop of lower air traffic growth and ongoing delays in the delivery of initial provisioning spares for the 737MAX".

In defence, revenues grew by 20% in the third quarter, with strong growth in both original equipment and aftermarket operations.

The group now expected full year defence organic revenue growth of 9 - 11%, up from previous guidance of 6 - 8%).

Operating margin would be at the lower end of Meggitt's 17.7 - 18.2% guidance due to the 737MAX and pressures across its internal and external supply chain driven by the "unprecedented ramp up in new aircraft production".

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Meggitt Market Data

Currency UK Pounds
Share Price 281.50p
Change Today 13.10p
% Change 4.88 %
52 Week High 697.40
52 Week Low 217.00
Volume 6,033,361
Shares Issued 777.57m
Market Cap £2,188.86m
RiskGrade 637

Meggitt Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.65% above the market average57.65% above the market average57.65% above the market average57.65% above the market average57.65% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average
Price Trend
60.35% below the market average60.35% below the market average60.35% below the market average60.35% below the market average60.35% below the market average
53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average
Income
67.47% above the market average67.47% above the market average67.47% above the market average67.47% above the market average67.47% above the market average
80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average
Growth
4.97% above the market average4.97% above the market average4.97% above the market average4.97% above the market average4.97% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average

What The Brokers Say

Strong Buy 8
Buy 0
Neutral 8
Sell 0
Strong Sell 4
Total 20
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Meggitt Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Sep-19 21-Mar-19
Paid 04-Oct-19 03-May-19
Amount 5.55p 11.35p

Trades for 09-Apr-2020

Time Volume / Share Price
17:05 7,200 @ 282.56p
16:35 1,987,993 @ 281.50p
16:29 60 @ 283.40p
16:29 7 @ 282.40p
16:29 270 @ 282.70p

Meggitt Key Personnel

CEO Tony Wood

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