Zacks: Brokerages Expect Mistras Group Inc (MG) Will Announce Quarterly Sales of $170.16 Million
Wall Street brokerages predict that Mistras Group Inc (NYSE:MG) will announce sales of $170.16 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Mistras Group’s earnings, with estimates ranging from $165.80 million to $174.52 million. The business is expected to announce its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Mistras Group will report full year sales of $170.16 million for the current fiscal year, with estimates ranging from $682.90 million to $685.57 million. For the next fiscal year, analysts anticipate that the firm will post sales of $710.30 million per share, with estimates ranging from $708.19 million to $712.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Mistras Group.
Mistras Group (NYSE:MG) last posted its quarterly earnings results on Monday, May 8th. The technology company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $163.32 million for the quarter, compared to analysts’ expectations of $160.09 million. Mistras Group had a return on equity of 8.50% and a net margin of 2.71%.
MG has been the topic of several recent research reports. Scotiabank reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Mistras Group in a research note on Monday, February 27th. Zacks Investment Research raised Mistras Group from a “sell” rating to a “hold” rating in a research note on Thursday, March 16th. Bank of America Corporation cut Mistras Group from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Friday, March 17th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $47.00 price target on shares of Mistras Group in a research note on Friday, May 12th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.50.
In related news, EVP Michael C. Keefe sold 8,004 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $21.18, for a total value of $169,524.72. Following the sale, the executive vice president now directly owns 49,756 shares of the company’s stock, valued at $1,053,832.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Sotirios J. Vahaviolos sold 94,607 shares of the company’s stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $21.14, for a total value of $1,999,991.98. Following the completion of the sale, the chairman now directly owns 10,945,868 shares in the company, valued at $231,395,649.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 196,817 shares of company stock worth $4,169,510. 45.60% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of MG. State Board of Administration of Florida Retirement System purchased a new stake in shares of Mistras Group during the fourth quarter valued at $269,000. Comerica Bank bought a new stake in Mistras Group during the fourth quarter valued at approximately $794,000. State Street Corp increased its stake in Mistras Group by 1.2% in the fourth quarter. State Street Corp now owns 326,477 shares of the technology company’s stock valued at $8,385,000 after buying an additional 3,814 shares during the period. Dimensional Fund Advisors LP increased its stake in Mistras Group by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,025,069 shares of the technology company’s stock valued at $26,324,000 after buying an additional 10,933 shares during the period. Finally, Systematic Financial Management LP bought a new stake in Mistras Group during the fourth quarter valued at approximately $1,785,000. 57.38% of the stock is currently owned by institutional investors.
Mistras Group (MG) traded down 0.23% during trading on Friday, hitting $21.66. The company’s stock had a trading volume of 105,808 shares. The firm has a market cap of $617.05 million, a P/E ratio of 43.41 and a beta of 1.25. The firm has a 50 day moving average of $21.63 and a 200 day moving average of $22.62. Mistras Group has a 12 month low of $19.49 and a 12 month high of $26.46.
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Mistras Group Company Profile
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