Equities research analysts predict that Matrix Service Co (NASDAQ:MTRX) will announce earnings of $0.43 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Matrix Service’s earnings. The lowest EPS estimate is $0.41 and the highest is $0.44. Matrix Service posted earnings of $0.03 per share during the same quarter last year, which indicates a positive year over year growth rate of 1,333.3%. The business is scheduled to announce its next quarterly earnings results on Monday, September 9th.
According to Zacks, analysts expect that Matrix Service will report full-year earnings of $0.97 per share for the current fiscal year, with EPS estimates ranging from $0.96 to $0.98. For the next year, analysts forecast that the company will report earnings of $1.50 per share, with EPS estimates ranging from $1.47 to $1.52. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Matrix Service.
Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. The company had revenue of $358.89 million during the quarter, compared to analyst estimates of $347.85 million. Matrix Service had a net margin of 0.04% and a return on equity of 4.93%. The firm’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) earnings per share.
A number of equities analysts have commented on MTRX shares. ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday, July 12th. Zacks Investment Research downgraded shares of Gold Resource from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Finally, BidaskClub downgraded shares of Zebra Technologies from a “buy” rating to a “hold” rating in a report on Tuesday.
In other news, VP Kevin S. Cavanah sold 14,505 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $21.15, for a total transaction of $306,780.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Harry Miller sold 1,825 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $22.25, for a total transaction of $40,606.25. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. increased its holdings in shares of Matrix Service by 167.9% during the fourth quarter. Macquarie Group Ltd. now owns 1,436 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 900 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Matrix Service by 75.2% during the first quarter. Advisors Asset Management Inc. now owns 2,840 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 1,219 shares in the last quarter. Investors Research Corp acquired a new position in shares of Matrix Service during the first quarter valued at about $63,000. BNP Paribas Arbitrage SA increased its holdings in shares of Matrix Service by 232.1% during the first quarter. BNP Paribas Arbitrage SA now owns 5,510 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 3,851 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of Matrix Service during the fourth quarter valued at about $139,000. Hedge funds and other institutional investors own 93.55% of the company’s stock.
Matrix Service stock traded down $0.11 during trading hours on Friday, reaching $18.29. The stock had a trading volume of 114,532 shares, compared to its average volume of 84,699. The company has a market capitalization of $493.25 million, a P/E ratio of 121.93 and a beta of 1.11. The company has a current ratio of 1.43, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $19.40. Matrix Service has a 52 week low of $15.43 and a 52 week high of $25.75.
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.
Further Reading: What is a recession?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Matrix Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matrix Service and related companies with MarketBeat.com's FREE daily email newsletter.