Zacks: Analysts Expect Magnegas Applied Tchnlgy Sltns Inc (MNGA) Will Announce Quarterly Sales of $3.13 Million

Wall Street brokerages expect Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) to report sales of $3.13 million for the current quarter, according to Zacks. Two analysts have made estimates for Magnegas Applied Tchnlgy Sltns’ earnings, with estimates ranging from $2.85 million to $3.40 million. Magnegas Applied Tchnlgy Sltns posted sales of $880,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 255.7%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, November 14th.

According to Zacks, analysts expect that Magnegas Applied Tchnlgy Sltns will report full year sales of $10.54 million for the current year, with estimates ranging from $9.96 million to $11.20 million. For the next year, analysts forecast that the firm will report sales of $18.03 million, with estimates ranging from $15.00 million to $22.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Magnegas Applied Tchnlgy Sltns.

Magnegas Applied Tchnlgy Sltns (NASDAQ:MNGA) last announced its quarterly earnings data on Tuesday, August 14th. The oil and gas company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.10). The business had revenue of $2.91 million during the quarter, compared to analysts’ expectations of $1.93 million. Magnegas Applied Tchnlgy Sltns had a negative net margin of 226.28% and a negative return on equity of 115.89%.

Separately, HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Magnegas Applied Tchnlgy Sltns in a report on Wednesday, August 15th.

NASDAQ:MNGA opened at $0.28 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.79 and a debt-to-equity ratio of 0.06. Magnegas Applied Tchnlgy Sltns has a one year low of $0.13 and a one year high of $7.14.

Magnegas Applied Tchnlgy Sltns Company Profile

MagneGas Applied Technology Solutions, Inc, an alternative energy company, creates and produces hydrogen based fuel through the gasification of liquid and liquid waste in the United States and internationally. The company offers MagneGas2, a hydrogen-based fuel for metal cutting as an alternative to acetylene.

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