Analysts expect Mercury Systems Inc (NASDAQ:MRCY) to post $154.45 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Mercury Systems’ earnings, with the highest sales estimate coming in at $155.64 million and the lowest estimate coming in at $152.10 million. Mercury Systems reported sales of $117.91 million in the same quarter last year, which would indicate a positive year over year growth rate of 31%. The business is expected to announce its next earnings results on Tuesday, January 22nd.
On average, analysts expect that Mercury Systems will report full year sales of $622.13 million for the current fiscal year, with estimates ranging from $611.50 million to $633.35 million. For the next year, analysts anticipate that the company will report sales of $684.75 million, with estimates ranging from $666.60 million to $705.56 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Mercury Systems.
Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, October 30th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $144.10 million for the quarter, compared to analyst estimates of $139.12 million. Mercury Systems had a return on equity of 6.97% and a net margin of 5.72%. The firm’s revenue was up 35.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 EPS.
A number of research analysts recently weighed in on MRCY shares. Zacks Investment Research lowered Mercury Systems from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. ValuEngine raised Mercury Systems from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. BidaskClub raised Mercury Systems from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Canaccord Genuity started coverage on Mercury Systems in a report on Thursday, October 4th. They set a “buy” rating and a $64.00 target price on the stock. Finally, Drexel Hamilton set a $58.00 target price on Mercury Systems and gave the stock a “buy” rating in a report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $53.86.
MRCY stock opened at $50.96 on Friday. The company has a current ratio of 4.40, a quick ratio of 2.94 and a debt-to-equity ratio of 0.31. The company has a market cap of $2.35 billion, a P/E ratio of 45.10, a price-to-earnings-growth ratio of 3.22 and a beta of 0.85. Mercury Systems has a 1-year low of $30.11 and a 1-year high of $57.26.
In related news, insider Mark Aslett sold 30,000 shares of the business’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $54.91, for a total value of $1,647,300.00. Following the completion of the sale, the insider now directly owns 427,440 shares in the company, valued at approximately $23,470,730.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Didier M. C. Thibaud sold 3,500 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $49.66, for a total value of $173,810.00. Following the completion of the sale, the chief operating officer now owns 331,669 shares of the company’s stock, valued at $16,470,682.54. The disclosure for this sale can be found here. Insiders sold a total of 55,200 shares of company stock valued at $2,920,742 over the last 90 days. 2.80% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRCY. Conestoga Capital Advisors LLC bought a new stake in Mercury Systems in the 2nd quarter valued at $43,032,000. Federated Investors Inc. PA boosted its stake in Mercury Systems by 344.2% in the 2nd quarter. Federated Investors Inc. PA now owns 970,500 shares of the technology company’s stock valued at $36,937,000 after purchasing an additional 752,000 shares during the period. BlackRock Inc. boosted its stake in Mercury Systems by 8.9% in the 2nd quarter. BlackRock Inc. now owns 8,274,536 shares of the technology company’s stock valued at $314,928,000 after purchasing an additional 672,821 shares during the period. Fred Alger Management Inc. boosted its stake in Mercury Systems by 245.7% in the 2nd quarter. Fred Alger Management Inc. now owns 827,399 shares of the technology company’s stock valued at $31,491,000 after purchasing an additional 588,093 shares during the period. Finally, Glenmede Trust Co. NA boosted its stake in Mercury Systems by 59.7% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,130,014 shares of the technology company’s stock valued at $43,008,000 after purchasing an additional 422,612 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.
About Mercury Systems
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.
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