Matrix Service (NASDAQ:MTRX – Get Free Report) posted its earnings results on Wednesday. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05, FiscalAI reports. Matrix Service had a positive return on equity of 5.32% and a negative net margin of 0.30%. The business had revenue of $219.40 million during the quarter, compared to analysts’ expectations of $239.78 million.
Matrix Service Price Performance
Shares of MTRX traded down $0.43 during mid-day trading on Wednesday, hitting $9.13. 524,395 shares of the company’s stock were exchanged, compared to its average volume of 467,097. Matrix Service has a 52 week low of $8.85 and a 52 week high of $15.97. The company has a market cap of $258.29 million, a PE ratio of 36.77, a P/E/G ratio of 0.89 and a beta of 1.03. The company has a 50-day simple moving average of $10.14 and a 200 day simple moving average of $11.74.
Analysts Set New Price Targets
Several research analysts have recently weighed in on MTRX shares. Northland Securities set a $16.00 price target on shares of Matrix Service in a report on Friday, September 4th. Weiss Ratings lowered shares of Matrix Service from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.50.
About Matrix Service
Matrix Service Company (NASDAQ:MTRX) is an engineering, construction, and maintenance services provider serving the energy and industrial markets. Based in Tulsa, Oklahoma, the company supports the development, operation, and maintenance of critical infrastructure for customers across North America.
Through its operating businesses, Matrix Service provides engineering, procurement, fabrication, construction, commissioning, maintenance, and repair services. Its capabilities include aboveground storage tanks, terminals, pipelines, process facilities, power infrastructure, and other energy-related assets.
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