Montrose Environmental Group (NYSE:ONT) Posts Quarterly Earnings Results, Beats Estimates By $0.33 EPS

Montrose Environmental Group (NYSE:ONT) issued its earnings results on Wednesday. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.23 by $0.33, FiscalAI reports. The company had revenue of $203.04 million during the quarter, compared to analysts’ expectations of $201.10 million. Montrose Environmental Group had a negative net margin of 1.40% and a positive return on equity of 5.46%.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock traded up $2.66 during mid-day trading on Friday, reaching $22.08. The company had a trading volume of 984,793 shares, compared to its average volume of 571,553. Montrose Environmental Group has a fifty-two week low of $12.26 and a fifty-two week high of $30.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.84. The company has a market cap of $775.45 million, a P/E ratio of -73.60, a P/E/G ratio of 1.66 and a beta of 1.80. The business has a fifty day simple moving average of $15.64 and a 200 day simple moving average of $19.25.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Needham & Company LLC lowered their price objective on shares of Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, August 7th. JPMorgan Chase & Co. reduced their target price on Montrose Environmental Group from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Bank of America lowered Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research note on Thursday, August 6th. Wall Street Zen lowered Montrose Environmental Group from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings cut Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $18.50.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, government and other organizations address environmental compliance, sustainability and risk-management needs. Its services span the full project life cycle, from environmental assessment and permitting to monitoring, remediation and ongoing compliance support.

The company provides air quality and emissions testing, environmental laboratory services, consulting, engineering, water and waste management, environmental health and safety support, and remediation services.