Zacks: Analysts Anticipate Matrix Service Co (NASDAQ:MTRX) to Post $0.28 EPS

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Equities research analysts expect Matrix Service Co (NASDAQ:MTRX) to report earnings of $0.28 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Matrix Service’s earnings. Matrix Service reported earnings per share of $0.14 in the same quarter last year, which would indicate a positive year over year growth rate of 100%. The company is scheduled to report its next quarterly earnings results on Wednesday, February 5th.

On average, analysts expect that Matrix Service will report full-year earnings of $1.60 per share for the current fiscal year. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Matrix Service.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, November 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.04). The business had revenue of $338.10 million for the quarter, compared to analysts’ expectations of $344.21 million. Matrix Service had a return on equity of 9.30% and a net margin of 2.22%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share.

A number of brokerages have recently commented on MTRX. ValuEngine downgraded Matrix Service from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. TheStreet upgraded shares of Matrix Service from a “c” rating to a “b-” rating in a report on Tuesday, September 10th. Zacks Investment Research cut shares of Matrix Service from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. BidaskClub upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a report on Thursday. Finally, DA Davidson upgraded shares of Matrix Service from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.50.

Shares of NASDAQ MTRX traded down $0.61 during midday trading on Wednesday, hitting $20.33. 8,704 shares of the company’s stock were exchanged, compared to its average volume of 175,601. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.54 and a quick ratio of 1.51. The stock’s 50 day moving average price is $19.05 and its 200-day moving average price is $19.00. The firm has a market cap of $568.78 million, a P/E ratio of 20.14 and a beta of 1.03. Matrix Service has a twelve month low of $15.43 and a twelve month high of $24.36.

In related news, COO Joseph F. Montalbano sold 6,036 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $20.00, for a total value of $120,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC acquired a new stake in shares of Matrix Service during the second quarter worth approximately $36,000. KBC Group NV acquired a new stake in shares of Matrix Service during the second quarter worth approximately $105,000. Sun Life Financial INC acquired a new stake in shares of Matrix Service during the second quarter worth approximately $212,000. United Services Automobile Association increased its holdings in shares of Matrix Service by 8.1% during the second quarter. United Services Automobile Association now owns 13,142 shares of the oil and gas company’s stock worth $266,000 after buying an additional 985 shares in the last quarter. Finally, Alberta Investment Management Corp increased its holdings in shares of Matrix Service by 57.6% during the third quarter. Alberta Investment Management Corp now owns 15,600 shares of the oil and gas company’s stock worth $267,000 after buying an additional 5,700 shares in the last quarter. Institutional investors and hedge funds own 93.33% 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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