Matrix Service (NASDAQ:MTRX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, April 18th.
According to Zacks, “Matrix Service Company designs, constructs, maintains, and provides specialized repair services and products for aboveground storage tanks, provides general industrial construction and in-plant routine maintenance, process unit turnarounds and construction services principally for petroleum refineries, bulk storage terminals, pipelines, power plants and chemical plants. Matrix Service Company is a top-tier engineering, procurement and construction company providing these services, as well as fabrication, maintenance and repair, to the energy, power and industrial markets . The Company provides services through four subsidiaries: Matrix PDM Engineering, Matrix North American Construction (its direct hire union subsidiary), Matrix Service Inc., and Matrix Applied Technologies. “
Other equities analysts also recently issued reports about the company. BidaskClub downgraded Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 6th. ValuEngine raised Matrix Service from a “sell” rating to a “hold” rating in a report on Tuesday, April 3rd. Five research analysts have rated the stock with a hold rating, Matrix Service currently has a consensus rating of “Hold” and an average target price of $18.00.
Shares of MTRX opened at $16.00 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.96 and a current ratio of 1.99. The stock has a market capitalization of $433.10, a P/E ratio of -1,600.00 and a beta of 0.87. Matrix Service has a 12-month low of $7.80 and a 12-month high of $20.25.
Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. Matrix Service had a negative net margin of 0.59% and a negative return on equity of 1.97%. The company had revenue of $282.90 million for the quarter, compared to analyst estimates of $298.43 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. analysts expect that Matrix Service will post 0.65 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Matrix Service during the third quarter worth approximately $138,000. Brandywine Global Investment Management LLC purchased a new stake in shares of Matrix Service during the fourth quarter worth approximately $182,000. Macquarie Group Ltd. purchased a new stake in shares of Matrix Service during the fourth quarter worth approximately $236,000. MetLife Investment Advisors LLC purchased a new stake in shares of Matrix Service during the fourth quarter worth approximately $253,000. Finally, Wolverine Trading LLC purchased a new stake in shares of Matrix Service during the fourth quarter worth approximately $275,000. Institutional investors and hedge funds own 91.67% of the company’s stock.
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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, natural gas fired power stations, and renewable energy installations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services to investor owned utilities.
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