Mercury Systems Inc (MRCY) Issues Q2 Earnings Guidance
Mercury Systems Inc (NASDAQ:MRCY) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.28-$0.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.29. The company issued revenue guidance of $112.5-$116.5 million, compared to the consensus revenue estimate of $111.98 million.Mercury Systems also updated its FY18 guidance to $1.29-$1.35 EPS.
Several brokerages have weighed in on MRCY. Robert W. Baird restated a buy rating and issued a $48.00 target price on shares of Mercury Systems in a research note on Tuesday. SunTrust Banks, Inc. restated a buy rating on shares of Mercury Systems in a research note on Friday. Noble Financial restated 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 price objective on shares of Mercury Systems in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded shares of Mercury Systems from a sell rating to a hold rating in a research note on Wednesday, October 4th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $47.83.
Mercury Systems Inc (NASDAQ MRCY) traded up 2.09% during midday trading on Tuesday, hitting $52.83. 359,940 shares of the stock traded hands. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 91.09 and a beta of 0.41. Mercury Systems Inc has a one year low of $23.43 and a one year high of $53.56. The company has a 50-day moving average price of $50.19 and a 200 day moving average price of $43.96.
In other news, VP Charles A. Speicher sold 7,000 shares of the company’s 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 document filed with the SEC, which is available at this link. Also, CFO Gerald M. Haines II sold 2,500 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $51.94, for a total transaction of $129,850.00. Following the completion of the transaction, the chief financial officer now owns 220,760 shares of the company’s stock, valued at approximately $11,466,274.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,900 shares of company stock valued at $1,120,368. Company insiders own 3.50% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Mercury Systems Inc (MRCY) Issues Q2 Earnings Guidance” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/24/mercury-systems-inc-mrcy-issues-q2-earnings-guidance.html.
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.
Receive News & Ratings for Mercury Systems Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercury Systems Inc and related companies with MarketBeat.com's FREE daily email newsletter.