Montrose Environmental Group (NYSE:ONT) Issues Earnings Results

Montrose Environmental Group (NYSE:ONT) posted its quarterly earnings data on Wednesday. The company reported $0.31 earnings per share 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%.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock traded up $0.41 during trading hours on Wednesday, hitting $16.10. 452,013 shares of the company traded hands, compared to its average volume of 567,664. The firm has a market cap of $565.43 million, a P/E ratio of -48.79, a P/E/G ratio of 1.62 and a beta of 1.80. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.84. The firm’s 50-day simple moving average is $15.59 and its two-hundred day simple moving average is $19.30. Montrose Environmental Group has a 1-year low of $12.26 and a 1-year high of $30.00.

Wall Street Analysts Forecast Growth

ONT has been the topic of several research analyst reports. Weiss Ratings cut Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. Needham & Company LLC lowered their target price on shares of Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Wall Street Zen cut shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Bank of America downgraded shares of Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Montrose Environmental Group from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Montrose Environmental Group currently has a consensus rating of “Reduce” and a consensus price target of $17.50.

About Montrose Environmental Group

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.