Shares of Matrix Service Company (NASDAQ:MTRX) have been assigned an average recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.00.
A number of analysts have recently weighed in on the stock. BidaskClub raised shares of Matrix Service from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. TheStreet upgraded shares of Matrix Service from a “d+” rating to a “c-” rating in a report on Monday, October 9th. ValuEngine downgraded shares of Matrix Service from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Matrix Service from a “sell” rating to a “hold” rating and set a $18.00 target price on the stock in a report on Tuesday, November 14th. Finally, KeyCorp reiterated a “hold” rating on shares of Matrix Service in a report on Monday, August 28th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTRX. Dimensional Fund Advisors LP raised its holdings in shares of Matrix Service by 9.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,248,294 shares of the oil and gas company’s stock valued at $21,022,000 after acquiring an additional 195,754 shares during the period. Vanguard Group Inc. raised its holdings in shares of Matrix Service by 6.1% during the second quarter. Vanguard Group Inc. now owns 1,492,327 shares of the oil and gas company’s stock valued at $13,953,000 after acquiring an additional 86,259 shares during the period. Royce & Associates LP raised its holdings in shares of Matrix Service by 0.9% during the third quarter. Royce & Associates LP now owns 1,021,428 shares of the oil and gas company’s stock valued at $15,526,000 after acquiring an additional 8,700 shares during the period. State Street Corp raised its holdings in shares of Matrix Service by 12.2% during the first quarter. State Street Corp now owns 838,988 shares of the oil and gas company’s stock valued at $13,842,000 after acquiring an additional 90,999 shares during the period. Finally, Boston Partners raised its holdings in shares of Matrix Service by 32.0% during the second quarter. Boston Partners now owns 740,510 shares of the oil and gas company’s stock valued at $6,923,000 after acquiring an additional 179,480 shares during the period. Institutional investors and hedge funds own 88.46% of the company’s stock.
Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.08. The company had revenue of $269.91 million during the quarter, compared to analyst estimates of $290.56 million. Matrix Service had a negative net margin of 0.51% and a negative return on equity of 1.75%. The business’s revenue for the quarter was down 21.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 EPS. equities analysts forecast that Matrix Service will post 0.63 earnings per share for the current year.
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About Matrix Service
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.
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