Zacks: Analysts Anticipate Matrix Service (NASDAQ:MTRX) Will Post Earnings of -$0.05 Per Share


Share on StockTwits

Wall Street analysts expect that Matrix Service (NASDAQ:MTRX) will report earnings per share of ($0.05) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Matrix Service’s earnings. Matrix Service posted earnings of $0.19 per share in the same quarter last year, which suggests a negative year over year growth rate of 126.3%. The business is expected to issue its next earnings results on Wednesday, February 3rd.

According to Zacks, analysts expect that Matrix Service will report full-year earnings of $0.16 per share for the current financial year. For the next financial year, analysts forecast that the business will post earnings of $0.55 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Matrix Service.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Saturday, November 7th. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). Matrix Service had a positive return on equity of 0.52% and a negative net margin of 4.47%. The business had revenue of $182.77 million for the quarter.

Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Matrix Service from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 1st. BidaskClub upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Thursday, December 31st. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $20.00.

MTRX opened at $15.36 on Monday. The company has a quick ratio of 1.91, a current ratio of 1.95 and a debt-to-equity ratio of 0.03. Matrix Service has a 52-week low of $7.11 and a 52-week high of $21.60. The company has a 50 day moving average of $10.53 and a two-hundred day moving average of $9.28. The company has a market cap of $406.56 million, a P/E ratio of -9.66 and a beta of 1.66.

In related news, Director James Harry Miller acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The stock was acquired at an average price of $8.98 per share, with a total value of $26,940.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its position in Matrix Service by 3.2% in the third quarter. State Street Corp now owns 1,364,783 shares of the oil and gas company’s stock worth $11,396,000 after buying an additional 42,947 shares during the last quarter. Smith Graham & Co. Investment Advisors LP raised its holdings in shares of Matrix Service by 20.3% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 846,919 shares of the oil and gas company’s stock worth $7,072,000 after acquiring an additional 143,072 shares during the last quarter. Engine Capital Management LP raised its holdings in shares of Matrix Service by 11.0% in the third quarter. Engine Capital Management LP now owns 460,998 shares of the oil and gas company’s stock worth $3,849,000 after acquiring an additional 45,828 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Matrix Service by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 436,553 shares of the oil and gas company’s stock worth $3,646,000 after acquiring an additional 27,098 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Matrix Service by 10.7% in the second quarter. Jacobs Levy Equity Management Inc. now owns 369,795 shares of the oil and gas company’s stock valued at $3,594,000 after purchasing an additional 35,635 shares during the period. 84.62% of the stock is owned by hedge funds and other institutional investors.

Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, mining, and minerals markets in the United States, Canada, South Korea, Australia, and internationally. The company's Electrical Infrastructure segment offers power delivery services, including construction of new substations, upgrades of existing substations, short-run transmission line installations, distribution upgrades, and maintenance; and emergency and storm restoration services.

Featured Article: Trading Strategy Methods for Individual Investors

Get a free copy of the Zacks research report on Matrix Service (MTRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Matrix Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matrix Service and related companies with MarketBeat.com's FREE daily email newsletter.