Equities analysts forecast that Matrix Service Co (NASDAQ:MTRX) will announce sales of $384.05 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Matrix Service’s earnings, with estimates ranging from $383.10 million to $385.00 million. Matrix Service posted sales of $293.09 million in the same quarter last year, which would indicate a positive year over year growth rate of 31%. The company is expected to report its next earnings results on Monday, September 9th.
On average, analysts expect that Matrix Service will report full year sales of $1.40 billion for the current financial year. For the next year, analysts expect that the firm will post sales of $1.50 billion, with estimates ranging from $1.46 billion to $1.53 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Matrix Service.
Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, May 8th. The oil and gas company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Matrix Service had a return on equity of 4.93% and a net margin of 0.04%. The company had revenue of $358.89 million for the quarter, compared to analysts’ expectations of $347.85 million. During the same quarter in the previous year, the business posted ($0.19) EPS. The business’s revenue for the quarter was up 46.1% on a year-over-year basis.
Several equities analysts have weighed in on MTRX shares. Zacks Investment Research cut Gold Resource from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a research note on Friday, July 12th. Finally, BidaskClub cut Zebra Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th.
NASDAQ:MTRX traded down $0.18 on Monday, hitting $18.11. 233,553 shares of the company’s stock traded hands, compared to its average volume of 138,149. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.43. Matrix Service has a 1 year low of $15.43 and a 1 year high of $25.75. The firm’s 50-day simple moving average is $19.41. The firm has a market capitalization of $490.36 million, a P/E ratio of 120.73 and a beta of 1.11.
In other news, Director James Harry Miller sold 1,825 shares of Matrix Service stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $22.25, for a total transaction of $40,606.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin S. Cavanah sold 14,505 shares of Matrix Service stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $21.15, for a total value of $306,780.75. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in Matrix Service by 16.8% in the second quarter. Nisa Investment Advisors LLC now owns 13,900 shares of the oil and gas company’s stock valued at $282,000 after purchasing an additional 2,000 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in shares of Matrix Service by 53.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 25,280 shares of the oil and gas company’s stock valued at $512,000 after buying an additional 8,824 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Matrix Service by 75.2% in 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 buying an additional 1,219 shares during the last quarter. Rutabaga Capital Management LLC MA lifted its position in shares of Matrix Service by 3.8% in the first quarter. Rutabaga Capital Management LLC MA now owns 250,402 shares of the oil and gas company’s stock valued at $4,903,000 after buying an additional 9,100 shares during the last quarter. Finally, Alambic Investment Management L.P. acquired a new stake in shares of Matrix Service in the first quarter valued at approximately $264,000. Institutional investors and hedge funds own 93.59% of the company’s stock.
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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