Matrix Service Co. (NASDAQ:MTRX) – KeyCorp lowered their Q1 2017 earnings per share (EPS) estimates for Matrix Service in a research report issued on Monday. KeyCorp analyst M. Tucker now anticipates that the firm will post earnings of $0.39 per share for the quarter, down from their previous forecast of $0.40. KeyCorp also issued estimates for Matrix Service’s Q2 2017 earnings at $0.31 EPS, Q3 2017 earnings at $0.20 EPS, Q4 2017 earnings at $0.30 EPS, FY2017 earnings at $1.20 EPS and FY2018 earnings at $1.15 EPS.

Several other equities analysts also recently weighed in on MTRX. Zacks Investment Research upgraded shares of Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. TheStreet upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a report on Friday, September 16th. Barclays PLC lowered their price target on shares of Matrix Service from $41.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, June 6th. Finally, DA Davidson reiterated a “buy” rating and set a $20.00 price target on shares of Matrix Service in a report on Friday, August 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $24.33.

Matrix Service (NASDAQ:MTRX) traded up 1.06% during midday trading on Wednesday, reaching $18.09. 43,212 shares of the company’s stock were exchanged. The firm has a market capitalization of $479.75 million, a P/E ratio of 16.91 and a beta of 1.66. The stock’s 50 day moving average is $17.70 and its 200 day moving average is $17.27. Matrix Service has a 52 week low of $14.07 and a 52 week high of $26.22.

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Matrix Service (NASDAQ:MTRX) last released its earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. The company had revenue of $359.60 million for the quarter. Matrix Service had a net margin of 2.20% and a return on equity of 10.47%. Matrix Service’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share.

In related news, insider James P. Ryan sold 5,416 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $18.30, for a total value of $99,112.80. Following the completion of the sale, the insider now directly owns 84,541 shares in the company, valued at $1,547,100.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John R. Hewitt sold 15,957 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $19.02, for a total transaction of $303,502.14. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its stake in Matrix Service by 93.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,641 shares of the company’s stock worth $142,000 after buying an additional 4,168 shares during the last quarter. Virginia Retirement Systems ET AL bought a new stake in Matrix Service during the second quarter worth about $180,000. BlackRock Inc. increased its stake in Matrix Service by 545.5% in the second quarter. BlackRock Inc. now owns 11,961 shares of the company’s stock worth $197,000 after buying an additional 10,108 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Matrix Service by 5.2% in the second quarter. Thrivent Financial for Lutherans now owns 12,980 shares of the company’s stock worth $214,000 after buying an additional 640 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Matrix Service by 0.7% in the second quarter. Arizona State Retirement System now owns 13,848 shares of the company’s stock worth $228,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 91.96% of the company’s stock.

About Matrix Service

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 Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.

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