Matrix Service (MTRX) Announces Quarterly Earnings Results, Meets Expectations

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Matrix Service (NASDAQ:MTRX) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.08 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08, Briefing.com reports. The business had revenue of $318.50 million for the quarter, compared to analyst estimates of $294.82 million. Matrix Service had a positive return on equity of 1.58% and a negative net margin of 1.05%. Matrix Service’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 EPS. Matrix Service updated its FY19 guidance to $0.85-1.15 EPS.

MTRX stock traded down $1.65 during trading on Friday, hitting $21.63. The company had a trading volume of 160,800 shares, compared to its average volume of 182,755. The firm has a market cap of $582.59 million, a price-to-earnings ratio of 144.20 and a beta of 1.01. Matrix Service has a fifty-two week low of $13.00 and a fifty-two week high of $25.75.

In other Matrix Service news, insider Bradley J. Rinehart sold 1,116 shares of the business’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $24.65, for a total value of $27,509.40. Following the transaction, the insider now owns 65,167 shares of the company’s stock, valued at $1,606,366.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Joseph F. Montalbano sold 34,785 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $22.66, for a total value of $788,228.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,266 shares of company stock worth $2,369,773. 1.90% of the stock is owned by insiders.

MTRX has been the topic of several recent analyst reports. Zacks Investment Research lowered Matrix Service from a “hold” rating to a “strong sell” rating in a research note on Saturday, September 15th. ValuEngine lowered Matrix Service from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, BidaskClub lowered Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th.

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About Matrix Service

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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Earnings History for Matrix Service (NASDAQ:MTRX)

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