Matrix Service (NASDAQ:MTRX) Issues FY19 Earnings Guidance

Matrix Service (NASDAQ:MTRX) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.90-1.10 for the period, compared to the Thomson Reuters consensus estimate of $0.94. The company issued revenue guidance of $1.375-1.425 billion, compared to the consensus revenue estimate of $1.38 billion.

Shares of MTRX opened at $18.61 on Friday. The firm has a market cap of $517.91 million, a PE ratio of 124.07 and a beta of 1.07. Matrix Service has a 12-month low of $15.43 and a 12-month high of $25.75. The company has a quick ratio of 1.40, a current ratio of 1.43 and a debt-to-equity ratio of 0.01.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, May 8th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07. Matrix Service had a net margin of 0.04% and a return on equity of 4.93%. The firm had revenue of $358.89 million during the quarter, compared to analyst estimates of $347.85 million. During the same period in the previous year, the firm earned ($0.19) earnings per share. The business’s revenue was up 46.1% on a year-over-year basis. Analysts predict that Matrix Service will post 0.97 EPS for the current year.

Several research firms have recently issued reports on MTRX. BidaskClub downgraded shares of Matrix Service from a buy rating to a hold rating in a report on Saturday, March 30th. Zacks Investment Research upgraded shares of Matrix Service from a sell rating to a hold rating in a report on Tuesday, May 14th. ValuEngine downgraded shares of Matrix Service from a buy rating to a hold rating in a report on Thursday, May 23rd. Finally, DA Davidson initiated coverage on shares of Matrix Service in a report on Wednesday, March 13th. They issued a neutral rating and a $22.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $36.67.

In other Matrix Service news, Director James Harry Miller sold 1,825 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $22.25, for a total value of $40,606.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alan R. Updyke sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $21.46, for a total value of $64,380.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,330 shares of company stock worth $411,767. 1.90% of the stock is owned by corporate insiders.

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Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.

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Earnings History and Estimates for Matrix Service (NASDAQ:MTRX)

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