Zacks: Brokerages Anticipate Mercury Systems Inc (MRCY) Will Announce Quarterly Sales of $115.22 Million
Equities analysts expect Mercury Systems Inc (NASDAQ:MRCY) to report $115.22 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Mercury Systems’ earnings. The highest sales estimate is $119.60 million and the lowest is $114.00 million. Mercury Systems posted sales of $85.43 million in the same quarter last year, which suggests a positive year over year growth rate of 34.9%. The business is scheduled to issue its next quarterly earnings report on Tuesday, August 1st.
According to Zacks, analysts expect that Mercury Systems will report full year sales of $115.22 million for the current fiscal year, with estimates ranging from $407.00 million to $412.58 million. For the next fiscal year, analysts expect that the business will report sales of $461.05 million per share, with estimates ranging from $450.00 million to $470.02 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Mercury Systems.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, April 25th. The technology company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Mercury Systems had a return on equity of 4.58% and a net margin of 6.48%. The business had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $105.54 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was up 62.8% on a year-over-year basis.
Several brokerages have commented on MRCY. Jefferies Group LLC reiterated a “hold” rating and set a $43.00 target price on shares of Mercury Systems in a research note on Friday, July 7th. Zacks Investment Research downgraded Mercury Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. BidaskClub upgraded Mercury Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 24th. Finally, Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a research note on Thursday, April 27th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Mercury Systems currently has an average rating of “Buy” and a consensus target price of $42.67.
Mercury Systems (NASDAQ:MRCY) traded up 2.23% on Wednesday, reaching $44.39. The company’s stock had a trading volume of 35,782 shares. Mercury Systems has a 12-month low of $21.52 and a 12-month high of $44.39. The stock has a market cap of $2.13 billion, a PE ratio of 76.67 and a beta of 0.38. The company’s 50 day moving average price is $39.54 and its 200-day moving average price is $36.74.
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In related news, Director Michael A. Daniels bought 2,683 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were bought at an average cost of $37.31 per share, with a total value of $100,102.73. Following the acquisition, the director now owns 60,096 shares in the company, valued at $2,242,181.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Didier M. C. Thibaud sold 30,000 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $40.41, for a total value of $1,212,300.00. Following the completion of the transaction, the chief operating officer now directly owns 418,694 shares in the company, valued at $16,919,424.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,200 shares of company stock worth $2,719,188. 4.30% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Mercury Systems by 18.2% in the fourth quarter. State Street Corp now owns 1,033,362 shares of the technology company’s stock worth $31,222,000 after buying an additional 159,032 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Mercury Systems by 1.2% in the fourth quarter. New York State Teachers Retirement System now owns 65,817 shares of the technology company’s stock worth $1,989,000 after buying an additional 800 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Mercury Systems during the first quarter worth approximately $16,342,000. Texas Permanent School Fund boosted its position in shares of Mercury Systems by 16.0% in the first quarter. Texas Permanent School Fund now owns 34,712 shares of the technology company’s stock worth $1,356,000 after buying an additional 4,797 shares in the last quarter. Finally, Allianz Asset Management AG bought a new position in shares of Mercury Systems during the fourth quarter worth approximately $237,000. 99.50% of the stock is currently owned by institutional investors.
About Mercury Systems
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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