Montrose Environmental Group (NYSE:ONT) Releases Earnings Results, Beats Estimates By $0.08 EPS

Montrose Environmental Group (NYSE:ONT) posted its quarterly earnings data on Wednesday. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08, Zacks reports. Montrose Environmental Group had a negative net margin of 1.44% and a positive return on equity of 4.11%. The company had revenue of $203.04 million during the quarter, compared to the consensus estimate of $201.10 million.

Montrose Environmental Group Trading Up 17.2%

ONT stock traded up $2.77 during midday trading on Thursday, reaching $18.90. 318,450 shares of the company’s stock traded hands, compared to its average volume of 566,304. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.00 and a quick ratio of 2.00. Montrose Environmental Group has a fifty-two week low of $12.26 and a fifty-two week high of $30.00. The business has a 50-day moving average price of $15.59 and a two-hundred day moving average price of $19.26. The company has a market capitalization of $663.77 million, a P/E ratio of -57.27, a PEG ratio of 1.61 and a beta of 1.80.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays cut shares of Montrose Environmental Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $19.00 to $15.00 in a research note on Friday, August 7th. Wall Street Zen lowered Montrose Environmental Group from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Bank of America cut Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 target price on the stock. in a report on Thursday, August 6th. Needham & Company LLC lowered their price target on Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. cut their price objective on Montrose Environmental Group from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Montrose Environmental Group has a consensus rating of “Reduce” and a consensus price target of $17.50.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, government and other organizations address environmental compliance, sustainability and risk-management needs. Its services span the full project life cycle, from environmental assessment and permitting to monitoring, remediation and ongoing compliance support.

The company provides air quality and emissions testing, environmental laboratory services, consulting, engineering, water and waste management, environmental health and safety support, and remediation services.