Wall Street brokerages expect that Mercury Systems Inc (NASDAQ:MRCY) will post sales of $213.93 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Mercury Systems’ earnings. The highest sales estimate is $217.10 million and the lowest is $210.79 million. Mercury Systems reported sales of $176.96 million in the same quarter last year, which indicates a positive year-over-year growth rate of 20.9%. The firm is scheduled to issue its next earnings results on Tuesday, August 4th.
On average, analysts expect that Mercury Systems will report full year sales of $793.15 million for the current financial year, with estimates ranging from $790.02 million to $796.30 million. For the next fiscal year, analysts expect that the business will post sales of $880.18 million, with estimates ranging from $847.00 million to $944.73 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Mercury Systems.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, April 28th. The technology company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.08. Mercury Systems had a net margin of 9.43% and a return on equity of 7.04%. The business had revenue of $208.00 million for the quarter, compared to analysts’ expectations of $199.17 million. During the same period in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 19.1% on a year-over-year basis.
MRCY has been the topic of a number of research reports. Robert W. Baird increased their price objective on shares of Mercury Systems from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Royal Bank of Canada initiated coverage on shares of Mercury Systems in a research note on Wednesday, May 20th. They issued a “sector perform” rating and a $87.00 price objective on the stock. They noted that the move was a valuation call. Zacks Investment Research raised shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on shares of Mercury Systems from $72.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, SunTrust Banks increased their price objective on shares of Mercury Systems from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $89.63.
Shares of NASDAQ:MRCY traded up $0.59 on Friday, reaching $78.63. 15,008 shares of the company were exchanged, compared to its average volume of 879,469. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 59.06, a price-to-earnings-growth ratio of 2.78 and a beta of 1.01. Mercury Systems has a 1-year low of $52.24 and a 1-year high of $96.29. The company has a 50-day moving average of $83.56 and a 200-day moving average of $77.64. The company has a current ratio of 6.52, a quick ratio of 5.19 and a debt-to-equity ratio of 0.20.
In other news, CEO Mark Aslett sold 6,250 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $85.45, for a total transaction of $534,062.50. Following the transaction, the chief executive officer now directly owns 266,063 shares in the company, valued at approximately $22,735,083.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 18,750 shares of company stock worth $1,508,625. 2.80% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in MRCY. William Blair Investment Management LLC lifted its holdings in shares of Mercury Systems by 715.1% during the 1st quarter. William Blair Investment Management LLC now owns 2,150,709 shares of the technology company’s stock worth $153,432,000 after acquiring an additional 1,886,864 shares during the period. Invesco Ltd. lifted its holdings in shares of Mercury Systems by 59.3% during the 1st quarter. Invesco Ltd. now owns 1,779,996 shares of the technology company’s stock worth $126,985,000 after acquiring an additional 662,360 shares during the period. Norges Bank purchased a new position in shares of Mercury Systems during the 4th quarter worth about $36,917,000. Victory Capital Management Inc. lifted its holdings in shares of Mercury Systems by 67.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,225,624 shares of the technology company’s stock worth $84,703,000 after acquiring an additional 492,817 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Mercury Systems by 31.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,666,683 shares of the technology company’s stock worth $118,901,000 after acquiring an additional 402,332 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.
About Mercury Systems
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.
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