Matrix Service Co (MTRX) Expected to Announce Earnings of $0.27 Per Share

Equities analysts expect Matrix Service Co (NASDAQ:MTRX) to report earnings per share (EPS) of $0.27 for the current quarter, according to Zacks. Two analysts have provided estimates for Matrix Service’s earnings. Matrix Service posted earnings of ($0.15) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 280%. The business is expected to report its next earnings report on Wednesday, May 8th.

According to Zacks, analysts expect that Matrix Service will report full-year earnings of $0.93 per share for the current financial year, with EPS estimates ranging from $0.90 to $0.96. For the next fiscal year, analysts expect that the business will report earnings of $1.47 per share, with EPS estimates ranging from $1.39 to $1.55. Zacks’ EPS calculations are an average based on a survey of research firms that follow Matrix Service.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Wednesday, February 6th. The oil and gas company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). Matrix Service had a negative net margin of 1.14% and a positive return on equity of 0.94%. The company had revenue of $340.60 million during the quarter, compared to the consensus estimate of $317.23 million. During the same quarter in the prior year, the business earned $0.17 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year.

A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Matrix Service from a “hold” rating to a “strong sell” rating in a report on Tuesday. BidaskClub lowered Matrix Service from a “buy” rating to a “hold” rating in a report on Saturday, March 30th. Finally, DA Davidson started coverage on Matrix Service in a report on Wednesday, March 13th. They set a “neutral” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.67.

In other news, VP Rick J. Bennett sold 2,884 shares of Matrix Service stock in a transaction on Friday, February 15th. The stock was sold at an average price of $21.02, for a total value of $60,621.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Rick J. Bennett sold 2,300 shares of Matrix Service stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $21.00, for a total value of $48,300.00. Following the completion of the transaction, the vice president now owns 16,721 shares of the company’s stock, valued at $351,141. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,104 shares of company stock valued at $213,622. 1.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MTRX. Macquarie Group Ltd. grew its position in shares of Matrix Service by 167.9% in the fourth quarter. Macquarie Group Ltd. now owns 1,436 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 900 shares in the last quarter. Advisors Asset Management Inc. grew its position in Matrix Service by 2,694.8% during the fourth quarter. Advisors Asset Management Inc. now owns 1,621 shares of the oil and gas company’s stock worth $29,000 after buying an additional 1,563 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Matrix Service during the fourth quarter worth about $139,000. Pacer Advisors Inc. grew its position in Matrix Service by 195.3% during the third quarter. Pacer Advisors Inc. now owns 5,936 shares of the oil and gas company’s stock worth $146,000 after buying an additional 3,926 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in Matrix Service by 413.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,086 shares of the oil and gas company’s stock worth $181,000 after buying an additional 8,123 shares in the last quarter. Institutional investors own 92.25% of the company’s stock.

MTRX stock opened at $19.54 on Friday. Matrix Service has a twelve month low of $13.75 and a twelve month high of $25.75. The company has a market capitalization of $511.85 million, a PE ratio of 130.27 and a beta of 1.09.

About Matrix Service

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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