ANALYSIS: Metroglass shareholders surprised by yet another downgrade

By Jenny Ruth | Tue, 26 Nov 2019


Investors' reaction to Metro Performance Glass's latest profit downgrade was undeniably negative, its magnitude an indication of how shocked they were.The shares plunged 12.7 percent from Friday's close to as low as 31 cents after the company said its earnings before interest and tax for the year ending March next year will be $21-to-$24 million, down from its previous guidance of $25-to-$27 million provided at its annual shareholders' meeting in late July.The latest forecast excludes a $1.7 million benefit for the new lease accounting standard...