$105.64 Million in Sales Expected for Mercury Systems Inc (MRCY) This Quarter
Brokerages expect Mercury Systems Inc (NASDAQ:MRCY) to report $105.64 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Mercury Systems’ earnings. The lowest sales estimate is $104.00 million and the highest is $106.93 million. Mercury Systems posted sales of $87.65 million in the same quarter last year, which indicates a positive year-over-year growth rate of 20.5%. The firm is scheduled to report its next quarterly earnings results on Tuesday, October 24th.
On average, analysts expect that Mercury Systems will report full year sales of $105.64 million for the current fiscal year, with estimates ranging from $460.77 million to $474.59 million. For the next financial year, analysts anticipate 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 an average based on a survey of research analysts that that provide coverage for Mercury Systems.
Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The company had revenue of $115.60 million during the quarter, compared to the consensus estimate of $115.11 million. Mercury Systems had a net margin of 6.09% and a return on equity of 4.87%. The company’s revenue was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 EPS.
Several equities analysts recently commented on the stock. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a research note on Thursday, August 3rd. Jefferies Group LLC reiterated a “hold” rating and set a $45.00 target price on shares of Mercury Systems in a research note on Wednesday, August 2nd. Zacks Investment Research cut shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub upgraded shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 24th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $43.00.
Shares of Mercury Systems (NASDAQ:MRCY) opened at 47.62 on Friday. The stock has a 50 day moving average of $45.95 and a 200 day moving average of $41.18. The company has a market cap of $2.29 billion, a P/E ratio of 82.10 and a beta of 0.42. Mercury Systems has a 52-week low of $21.52 and a 52-week high of $49.24.
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In other news, VP Charles A. Speicher sold 7,000 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $44.09, for a total value of $308,630.00. Following the completion of the transaction, the vice president now owns 36,983 shares in the company, valued at approximately $1,630,580.47. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Aslett sold 9,400 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $38.04, for a total transaction of $357,576.00. Following the completion of the transaction, the insider now owns 538,249 shares of the company’s stock, valued at approximately $20,474,991.96. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of Mercury Systems by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 25,075 shares of the technology company’s stock valued at $1,055,000 after buying an additional 100 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Mercury Systems by 5.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,114 shares of the technology company’s stock valued at $173,000 after buying an additional 195 shares in the last quarter. Wrapmanager Inc. raised its stake in shares of Mercury Systems by 3.5% in the 2nd quarter. Wrapmanager Inc. now owns 6,126 shares of the technology company’s stock valued at $258,000 after buying an additional 205 shares in the last quarter. Profund Advisors LLC raised its stake in shares of Mercury Systems by 2.9% in the 1st quarter. Profund Advisors LLC now owns 8,143 shares of the technology company’s stock valued at $318,000 after buying an additional 230 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Mercury Systems by 5.4% in the 2nd quarter. Amalgamated Bank now owns 6,290 shares of the technology company’s stock valued at $265,000 after buying an additional 321 shares in the last quarter. Institutional investors own 96.67% 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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