FY2018 EPS Estimates for Mercury Systems Inc Cut by Jefferies Group (NASDAQ:MRCY)
Mercury Systems Inc (NASDAQ:MRCY) – Equities research analysts at Jefferies Group lowered their FY2018 EPS estimates for shares of Mercury Systems in a report issued on Wednesday. Jefferies Group analyst S. Kahyaoglu now expects that the technology company will post earnings per share of $0.94 for the year, down from their prior forecast of $1.24. Jefferies Group currently has a “Hold” rating and a $45.00 target price on the stock. Jefferies Group also issued estimates for Mercury Systems’ FY2019 earnings at $0.98 EPS and FY2020 earnings at $1.12 EPS.
Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. Mercury Systems had a net margin of 6.09% and a return on equity of 4.87%. The firm had revenue of $115.60 million during the quarter, compared to the consensus estimate of $115.11 million. During the same period in the prior year, the firm earned $0.23 EPS. The business’s revenue was up 35.3% on a year-over-year basis.
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Several other equities analysts also recently commented on MRCY. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a report on Thursday. Zacks Investment Research downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, BidaskClub upgraded shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Mercury Systems currently has an average rating of “Buy” and a consensus price target of $43.00.
Shares of Mercury Systems (NASDAQ:MRCY) opened at 44.23 on Monday. The company has a market capitalization of $2.04 billion, a P/E ratio of 76.26 and a beta of 0.39. The firm has a 50-day moving average of $42.18 and a 200-day moving average of $38.87. Mercury Systems has a one year low of $21.52 and a one year high of $44.92.
In related news, insider Mark Aslett sold 9,400 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $38.04, for a total value of $357,576.00. Following the transaction, the insider now directly owns 538,249 shares in the company, valued at $20,474,991.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 28,600 shares of company stock worth $1,123,656 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Mercury Systems by 242,823.0% in the first quarter. BlackRock Inc. now owns 6,646,372 shares of the technology company’s stock valued at $259,540,000 after buying an additional 6,643,636 shares during the period. Vanguard Group Inc. increased its position in Mercury Systems by 21.6% in the first quarter. Vanguard Group Inc. now owns 3,938,032 shares of the technology company’s stock valued at $153,780,000 after buying an additional 700,484 shares during the period. Bank of New York Mellon Corp increased its position in Mercury Systems by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 1,573,345 shares of the technology company’s stock valued at $61,439,000 after buying an additional 292,704 shares during the period. State Street Corp increased its position in Mercury Systems by 44.0% in the first quarter. State Street Corp now owns 1,488,490 shares of the technology company’s stock valued at $58,127,000 after buying an additional 455,128 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Mercury Systems by 920.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,176 shares of the technology company’s stock valued at $48,077,000 after buying an additional 1,110,474 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.
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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