Mercury Systems Inc (MRCY) Releases Earnings Results, Beats Estimates By $0.11 EPS
Mercury Systems Inc (NASDAQ:MRCY) posted its quarterly earnings data on Tuesday. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.11, Briefing.com reports. The business had revenue of $106.10 million during the quarter, compared to analyst estimates of $105.18 million. Mercury Systems had a net margin of 6.09% and a return on equity of 4.87%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 earnings per share. Mercury Systems updated its Q2 guidance to $0.28-$0.30 EPS and its FY18 guidance to $1.29-$1.35 EPS.
Mercury Systems (NASDAQ MRCY) traded up 2.09% during midday trading on Tuesday, reaching $52.83. 356,931 shares of the company were exchanged. Mercury Systems has a 52-week low of $23.43 and a 52-week high of $53.56. The firm’s 50-day moving average price is $50.19 and its 200 day moving average price is $43.96. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 91.09 and a beta of 0.41.
In other news, insider Mark Aslett sold 9,600 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $47.32, for a total value of $454,272.00. Following the completion of the sale, the insider now directly owns 519,382 shares of the company’s stock, valued at $24,577,156.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gerald M. Haines II sold 2,500 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $51.94, for a total transaction of $129,850.00. Following the completion of the sale, the chief financial officer now directly owns 220,760 shares of the company’s stock, valued at $11,466,274.40. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $1,120,368 over the last three months. 3.50% of the stock is owned by insiders.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Mercury Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. SunTrust Banks, Inc. restated a “buy” rating and issued a $51.00 target price on shares of Mercury Systems in a report on Monday, October 2nd. Robert W. Baird restated a “buy” rating and issued a $48.00 target price on shares of Mercury Systems in a report on Tuesday. Jefferies Group LLC restated a “hold” rating and issued a $45.00 target price on shares of Mercury Systems in a report on Wednesday, August 2nd. Finally, Noble Financial restated a “hold” rating on shares of Mercury Systems in a report on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $47.83.
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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