Mercury Systems (NASDAQ:MRCY) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Mercury Systems (NASDAQ:MRCY) announced its quarterly earnings results on Tuesday. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.22, FiscalAI reports. The business had revenue of $253.15 million during the quarter, compared to analysts’ expectations of $245.00 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY traded up $3.96 during midday trading on Tuesday, reaching $83.58. 1,374,274 shares of the company were exchanged, compared to its average volume of 677,216. The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average is $80.18 and its two-hundred day moving average is $91.07. Mercury Systems has a one year low of $64.37 and a one year high of $128.45. The stock has a market cap of $5.09 billion, a PE ratio of -167.16 and a beta of 0.98.

Analyst Ratings Changes

MRCY has been the subject of a number of analyst reports. Piper Sandler decreased their target price on shares of Mercury Systems from $131.00 to $107.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. JPMorgan Chase & Co. boosted their target price on Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Truist Financial upped their target price on shares of Mercury Systems from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Wall Street Zen cut shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Royal Bank Of Canada lowered their price objective on shares of Mercury Systems from $120.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Mercury Systems presently has a consensus rating of “Hold” and a consensus target price of $107.90.

Insider Transactions at Mercury Systems

In other news, EVP Stuart Kupinsky sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $76.00, for a total transaction of $76,000.00. Following the completion of the transaction, the executive vice president directly owned 59,971 shares in the company, valued at approximately $4,557,796. This represents a 1.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Steven Ratner sold 4,000 shares of Mercury Systems stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $84.51, for a total transaction of $338,040.00. Following the completion of the transaction, the executive vice president directly owned 19,275 shares of the company’s stock, valued at $1,628,930.25. The trade was a 17.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 452,186 shares of company stock valued at $41,933,170. 0.99% of the stock is currently owned by insiders.

About Mercury Systems

Mercury Systems, Inc. develops and supplies secure processing systems and subsystems for the aerospace and defense industries. Its products include embedded computing, signal processing, radio-frequency and microwave components, and other technologies used to process and manage critical data. The company’s technologies support applications such as radar, electronic warfare, communications, avionics, and command-and-control systems. Mercury works with defense contractors and government customers, providing components and systems designed for use in demanding environments.