Wall Street brokerages expect that Matrix Service Co (NASDAQ:MTRX) will post earnings of $0.27 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Matrix Service’s earnings. Matrix Service reported earnings per share of ($0.15) in the same quarter last year, which would suggest a positive year-over-year growth rate of 280%. The company is scheduled to issue its next quarterly earnings results on Wednesday, May 8th.
According to Zacks, analysts expect that Matrix Service will report full-year earnings of $0.93 per share for the current fiscal year, with EPS estimates ranging from $0.90 to $0.96. For the next financial year, analysts anticipate that the company will report earnings of $1.47 per share, with EPS estimates ranging from $1.39 to $1.55. Zacks’ EPS calculations are an average based on a survey of research firms that cover Matrix Service.
Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Wednesday, February 6th. The oil and gas company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). The firm had revenue of $340.60 million during the quarter, compared to analyst estimates of $317.23 million. Matrix Service had a positive return on equity of 0.94% and a negative net margin of 1.14%. Matrix Service’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share.
A number of brokerages recently commented on MTRX. Zacks Investment Research lowered Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Tuesday. BidaskClub lowered Matrix Service from a “buy” rating to a “hold” rating in a research report on Saturday, March 30th. Finally, DA Davidson assumed coverage on Matrix Service in a research report on Wednesday, March 13th. They set a “neutral” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Matrix Service has an average rating of “Hold” and a consensus price target of $36.67.
In other news, VP Rick J. Bennett sold 2,300 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $21.00, for a total transaction of $48,300.00. Following the completion of the transaction, the vice president now directly owns 16,721 shares in the company, valued at approximately $351,141. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alan R. Updyke sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $21.46, for a total value of $64,380.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,104 shares of company stock valued at $213,622 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. grew its position in shares of Matrix Service by 167.9% during the 4th quarter. Macquarie Group Ltd. now owns 1,436 shares of the oil and gas company’s stock worth $26,000 after buying an additional 900 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Matrix Service by 2,694.8% during the 4th quarter. Advisors Asset Management Inc. now owns 1,621 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,563 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Matrix Service by 195.3% during the 3rd quarter. Pacer Advisors Inc. now owns 5,936 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 3,926 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Matrix Service during the 4th quarter valued at about $139,000. Finally, GSA Capital Partners LLP bought a new position in shares of Matrix Service during the 3rd quarter valued at about $239,000. Institutional investors own 92.25% of the company’s stock.
Shares of MTRX stock opened at $19.54 on Friday. The stock has a market capitalization of $511.85 million, a P/E ratio of 130.27 and a beta of 1.09. Matrix Service has a 12 month low of $13.75 and a 12 month high of $25.75.
Matrix Service Company Profile
Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.
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