Matrix Service (NASDAQ:MTRX – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01), Zacks reports. Matrix Service had a negative net margin of 0.30% and a positive return on equity of 5.32%. The company had revenue of $244.53 million for the quarter, compared to analyst estimates of $247.04 million.
Matrix Service Stock Up 0.7%
Shares of NASDAQ:MTRX opened at $10.62 on Friday. Matrix Service has a 12-month low of $9.70 and a 12-month high of $15.97. The business has a 50 day moving average of $11.88 and a 200-day moving average of $12.08. The stock has a market cap of $298.74 million, a PE ratio of -118.00, a P/E/G ratio of 0.84 and a beta of 0.98.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Northland Securities set a $16.00 target price on Matrix Service in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Matrix Service in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.
Hedge Funds Weigh In On Matrix Service
Large investors have recently bought and sold shares of the company. Sei Investments Co. lifted its stake in Matrix Service by 7.2% in the second quarter. Sei Investments Co. now owns 15,170 shares of the company’s stock valued at $205,000 after buying an additional 1,025 shares during the period. BNP Paribas Financial Markets grew its position in shares of Matrix Service by 68.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock valued at $34,000 after acquiring an additional 1,032 shares during the period. Tower Research Capital LLC TRC increased its holdings in Matrix Service by 133.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after acquiring an additional 1,893 shares during the period. Quarry LP purchased a new position in shares of Matrix Service during the 3rd quarter valued at about $28,000. Finally, State Street Corp lifted its stake in shares of Matrix Service by 0.5% in the 4th quarter. State Street Corp now owns 533,485 shares of the company’s stock valued at $6,242,000 after acquiring an additional 2,517 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.
Matrix Service Company Profile
Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.
The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.
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