Mercury Systems Inc (MRCY) Expected to Announce Quarterly Sales of $105.64 Million
Brokerages expect Mercury Systems Inc (NASDAQ:MRCY) to announce $105.64 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Mercury Systems’ earnings, with the highest sales estimate coming in at $106.93 million and the lowest estimate coming in at $104.00 million. Mercury Systems reported sales of $87.65 million in the same quarter last year, which indicates a positive year over year growth rate of 20.5%. The company is expected to issue its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Mercury Systems will report full year sales of $105.64 million for the current financial year, with estimates ranging from $460.77 million to $474.59 million. For the next year, analysts forecast that the business will report sales of $509.62 million per share, with estimates ranging from $493.00 million to $531.54 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Mercury Systems.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.08. Mercury Systems had a net margin of 6.09% and a return on equity of 4.87%. The company 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 business posted $0.23 EPS. The company’s quarterly revenue was up 35.3% on a year-over-year basis.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. BidaskClub upgraded shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a report on Thursday, April 27th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $43.00 price objective on shares of Mercury Systems in a report on Friday, July 7th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mercury Systems currently has a consensus rating of “Buy” and an average target price of $43.00.
Mercury Systems (MRCY) opened at 45.91 on Monday. The firm has a market capitalization of $2.12 billion, a P/E ratio of 79.16 and a beta of 0.39. Mercury Systems has a 1-year low of $21.52 and a 1-year high of $48.17. The stock’s 50 day moving average is $44.32 and its 200-day moving average is $39.95.
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In other news, VP Charles A. Speicher sold 7,000 shares of Mercury Systems stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $44.09, for a total transaction of $308,630.00. Following the completion of the transaction, the vice president now directly owns 36,983 shares in the company, valued at $1,630,580.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Aslett sold 9,400 shares of Mercury Systems stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $38.04, for a total transaction of $357,576.00. Following the transaction, the insider now owns 538,249 shares of the company’s stock, valued at $20,474,991.96. The disclosure for this sale can be found here. Insiders have sold 26,000 shares of company stock valued at $1,045,790 over the last quarter. Corporate insiders own 4.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneva Advisors LLC boosted its position in Mercury Systems by 9.1% in the first quarter. Geneva Advisors LLC now owns 28,443 shares of the technology company’s stock valued at $1,111,000 after buying an additional 2,368 shares during the period. Advisory Services Network LLC purchased a new position in Mercury Systems during the first quarter valued at $346,000. Wells Fargo & Company MN boosted its position in Mercury Systems by 129.9% in the first quarter. Wells Fargo & Company MN now owns 526,647 shares of the technology company’s stock valued at $20,566,000 after buying an additional 297,586 shares during the period. Beaumont Financial Partners LLC purchased a new position in Mercury Systems during the first quarter valued at $234,000. Finally, Emerald Advisers Inc. PA boosted its position in Mercury Systems by 5.4% in the first quarter. Emerald Advisers Inc. PA now owns 816,870 shares of the technology company’s stock valued at $31,899,000 after buying an additional 41,714 shares during the period. Institutional investors and hedge funds own 97.46% of the company’s stock.
Mercury Systems Company Profile
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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