Matrix Service (NASDAQ:MTRX) Releases FY20 Earnings Guidance

Matrix Service (NASDAQ:MTRX) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.10-1.40 for the period, compared to the Thomson Reuters consensus estimate of $1.29. The company issued revenue guidance of $1.40-1.55 billion, compared to the consensus revenue estimate of $1.47 billion.

Shares of MTRX stock traded down $1.25 during mid-day trading on Friday, hitting $17.95. The company’s stock had a trading volume of 202,100 shares, compared to its average volume of 145,810. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.49 and a current ratio of 1.51. The business has a 50-day moving average price of $17.99 and a 200 day moving average price of $19.05. The stock has a market cap of $524.72 million, a price-to-earnings ratio of 17.77 and a beta of 0.95. Matrix Service has a 52-week low of $15.43 and a 52-week high of $24.36.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.04). The company had revenue of $338.10 million during the quarter, compared to analysts’ expectations of $344.21 million. Matrix Service had a return on equity of 8.39% and a net margin of 1.98%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. Equities research analysts predict that Matrix Service will post 1.6 EPS for the current fiscal year.

MTRX has been the subject of a number of recent analyst reports. ValuEngine lowered Matrix Service from a hold rating to a sell rating in a research note on Friday, November 1st. DA Davidson raised Matrix Service from a neutral rating to a buy rating and set a $25.00 price objective for the company in a research note on Wednesday, August 7th. Zacks Investment Research lowered Matrix Service from a buy rating to a hold rating in a research note on Wednesday. TheStreet raised Matrix Service from a c rating to a b- rating in a research note on Tuesday, September 10th. Finally, BidaskClub raised Matrix Service from a sell rating to a hold rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $23.50.

In related news, COO Joseph F. Montalbano sold 10,275 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $20.36, for a total transaction of $209,199.00. Following the completion of the transaction, the chief operating officer now directly owns 52,546 shares of the company’s stock, valued at $1,069,836.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Joseph F. Montalbano sold 6,036 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $20.00, for a total value of $120,720.00. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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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