Matrix Service Co (NASDAQ:MTRX) issued its quarterly earnings data on Tuesday. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.66. The firm had revenue of $251.20 million for the quarter, compared to analysts’ expectations of $248.51 million. Matrix Service had a return on equity of 8.78% and a net margin of 2.12%. The firm’s revenue was down 18.8% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. Matrix Service updated its FY17 guidance to near breakeven EPS.
Matrix Service (NASDAQ:MTRX) remained flat at $8.85 during trading on Friday. 347,686 shares of the company traded hands. The stock has a market cap of $235.41 million, a P/E ratio of 23.85 and a beta of 1.31. The company’s 50 day moving average is $13.85 and its 200 day moving average is $18.10. Matrix Service has a 1-year low of $8.55 and a 1-year high of $23.45.
Several analysts have recently issued reports on the company. TheStreet cut Matrix Service from a “b-” rating to a “c+” rating in a report on Friday, February 10th. Zacks Investment Research cut Matrix Service from a “hold” rating to a “sell” rating in a report on Friday, February 17th. Finally, Stephens reissued a “hold” rating on shares of Matrix Service in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Matrix Service currently has a consensus rating of “Hold” and a consensus price target of $23.50.
An institutional investor recently raised its position in Matrix Service stock. Vanguard Group Inc. increased its position in Matrix Service Co (NASDAQ:MTRX) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,406,068 shares of the oil and gas company’s stock after buying an additional 20,859 shares during the period. Vanguard Group Inc. owned 5.29% of Matrix Service worth $23,200,000 as of its most recent SEC filing. 90.12% of the stock is currently owned by institutional investors and hedge funds.
Matrix Service Company Profile
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.
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