Matrix Service (MTRX) Releases Quarterly Earnings, Misses Expectations By $0.08 EPS
Matrix Service (NASDAQ:MTRX) issued its quarterly earnings data on Wednesday. The company reported $0.28 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.36 by $0.08, AnalystRatings.Net reports. The company had revenue of $344.40 million for the quarter, compared to the consensus estimate of $354.21 million. During the same quarter last year, the company posted $0.28 earnings per share.
MTRX has been the subject of a number of recent research reports. Analysts at Johnson Rice upgraded shares of Matrix Service from an “overweight” rating to a “focus list” rating in a research note on Friday, July 11th. Analysts at Global Hunter Securities initiated coverage on shares of Matrix Service in a research note on Thursday, June 19th. They set a “neutral” rating and a $32.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Matrix Service currently has a consensus rating of “Buy” and an average target price of $36.75.
Shares of Matrix Service (NASDAQ:MTRX) traded up 2.53% on Wednesday, hitting $29.13. 519,226 shares of the company’s stock traded hands. Matrix Service has a 52 week low of $15.57 and a 52 week high of $38.71. The stock has a 50-day moving average of $28.40 and a 200-day moving average of $31.74. The company has a market cap of $769.4 million and a price-to-earnings ratio of 21.36.
Matrix Service Company provide engineering, fabrication, construction and maintenance services primarily to oil, gas, power, petrochemical, industrial and mining and minerals markets.
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