Mistras Group (NYSE:MG) Releases Earnings Results, Beats Estimates By $0.03 EPS

Mistras Group (NYSE:MG) announced its quarterly earnings data on Monday. The technology company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03, FiscalAI reports. The company had revenue of $193.13 million during the quarter, compared to the consensus estimate of $189.66 million. Mistras Group had a net margin of 3.06% and a return on equity of 13.60%.

Mistras Group Stock Performance

Shares of NYSE MG traded down $0.32 during mid-day trading on Monday, reaching $15.76. 181,217 shares of the company were exchanged, compared to its average volume of 177,588. The company’s 50-day simple moving average is $16.99 and its 200-day simple moving average is $16.24. The company has a quick ratio of 1.67, a current ratio of 1.81 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $501.44 million, a P/E ratio of 22.51, a P/E/G ratio of 0.96 and a beta of 0.89. Mistras Group has a twelve month low of $8.71 and a twelve month high of $19.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MG. BNP Paribas Financial Markets boosted its holdings in shares of Mistras Group by 22.5% during the third quarter. BNP Paribas Financial Markets now owns 7,417 shares of the technology company’s stock worth $73,000 after acquiring an additional 1,360 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Mistras Group during the 4th quarter worth approximately $74,000. MetLife Investment Management LLC lifted its holdings in Mistras Group by 17.8% during the 4th quarter. MetLife Investment Management LLC now owns 7,035 shares of the technology company’s stock worth $89,000 after purchasing an additional 1,065 shares during the last quarter. Raymond James Financial Inc. boosted its stake in Mistras Group by 18.2% in the 2nd quarter. Raymond James Financial Inc. now owns 14,173 shares of the technology company’s stock valued at $114,000 after purchasing an additional 2,183 shares during the period. Finally, Evergreen Capital Management LLC bought a new stake in Mistras Group in the 2nd quarter valued at $136,000. Institutional investors and hedge funds own 74.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MG. Roth Capital started coverage on shares of Mistras Group in a research note on Thursday, April 30th. They issued a “buy” rating and a $22.00 target price for the company. Zacks Research downgraded Mistras Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. Wall Street Zen raised Mistras Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mistras Group in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.00.

About Mistras Group

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company’s offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.