Mercury Systems Inc (MRCY) Releases FY18 Earnings Guidance
Mercury Systems Inc (NASDAQ:MRCY) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.29-$1.35 for the period, compared to the Thomson Reuters consensus estimate of $1.24. The company issued revenue guidance of $457-$468 million, compared to the consensus revenue estimate of $466.13 million.Mercury Systems also updated its Q2 guidance to $0.28-$0.30 EPS.
Mercury Systems Inc (MRCY) traded up 2.09% during mid-day trading on Tuesday, reaching $52.83. The company’s stock had a trading volume of 359,940 shares. The firm has a market cap of $2.54 billion, a PE ratio of 91.09 and a beta of 0.41. Mercury Systems Inc has a 12-month low of $23.43 and a 12-month 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.
Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, October 24th. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.11. 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 quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS. On average, equities research analysts expect that Mercury Systems Inc will post $1.24 earnings per share for the current year.
MRCY has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Mercury Systems from a hold rating to a buy rating and set a $47.00 target price for the company in a research note on Wednesday, July 5th. SunTrust Banks, Inc. reiterated a buy rating and set a $51.00 target price on shares of Mercury Systems in a research note on Monday, October 2nd. Robert W. Baird reiterated a buy rating and set a $48.00 target price on shares of Mercury Systems in a research note on Tuesday. Noble Financial reiterated a hold rating on shares of Mercury Systems in a research note on Thursday, August 3rd. Finally, 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. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Mercury Systems currently has an average rating of Buy and an average target price of $47.83.
In other news, insider Mark Aslett sold 9,600 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was 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 in the company, valued at approximately $24,577,156.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles A. Speicher sold 7,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $44.09, for a total value of $308,630.00. Following the completion of the sale, the vice president now owns 36,983 shares of the company’s stock, valued at $1,630,580.47. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $1,120,368 over the last 90 days. 3.50% of the stock is currently owned by company insiders.
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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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