Mistras Group Inc. (MG) Issues FY17 Earnings Guidance
Mistras Group Inc. (NYSE:MG) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $0.88-0.97 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.96. The company issued revenue guidance of $690-705 million, compared to the consensus revenue estimate of $723.01 million.
Several research firms have recently commented on MG. CIBC upped their price objective on shares of Mistras Group from $45.00 to $47.00 and gave the company a sector perform rating in a report on Tuesday, August 9th. Zacks Investment Research raised shares of Mistras Group from a hold rating to a buy rating and set a $29.00 price target on the stock in a report on Friday, July 22nd. TD Securities lowered their price target on shares of Mistras Group from $51.00 to $46.00 and set a buy rating on the stock in a report on Monday, July 11th. Finally, Robert W. Baird raised shares of Mistras Group from a neutral rating to an outperform rating and increased their price target for the stock from $27.00 to $28.00 in a report on Friday, August 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $41.75.
Mistras Group Inc. (NYSE:MG) opened at 23.33 on Friday. The firm’s 50-day moving average is $23.82 and its 200-day moving average is $24.47. Mistras Group Inc. has a 52-week low of $17.84 and a 52-week high of $26.47. The firm has a market capitalization of $675.52 million, a PE ratio of 28.45 and a beta of 1.20.
Mistras Group (NYSE:MG) last released its quarterly earnings data on Thursday, October 6th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Mistras Group had a net margin of 3.43% and a return on equity of 10.61%. The company had revenue of $168.40 million for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the company earned $0.23 earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, analysts anticipate that Mistras Group Inc. will post $5.23 earnings per share for the current year.
In other news, insider Dennis Bertolotti sold 21,000 shares of Mistras Group stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $24.97, for a total value of $524,370.00. Following the transaction, the insider now directly owns 101,062 shares of the company’s stock, valued at approximately $2,523,518.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 45.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Rational Advisors LLC acquired a new position in shares of Mistras Group during the second quarter worth approximately $128,000. BlackRock Group LTD boosted its position in shares of Mistras Group by 54.5% in the second quarter. BlackRock Group LTD now owns 6,903 shares of the company’s stock worth $165,000 after buying an additional 2,434 shares during the last quarter. Globeflex Capital L P acquired a new position in shares of Mistras Group during the second quarter worth approximately $186,000. BlackRock Advisors LLC boosted its position in shares of Mistras Group by 4.2% in the second quarter. BlackRock Advisors LLC now owns 8,381 shares of the company’s stock worth $200,000 after buying an additional 335 shares during the last quarter. Finally, A.R.T. Advisors LLC boosted its position in shares of Mistras Group by 3.5% in the second quarter. A.R.T. Advisors LLC now owns 8,769 shares of the company’s stock worth $209,000 after buying an additional 300 shares during the last quarter. 56.35% of the stock is currently owned by institutional investors and hedge funds.
About Mistras Group
Mistras Group, Inc is a provider of asset protection solutions. The Company offers one source for asset protection solutions to its customers. The Company has three segments: Services, Products and Systems, and International. The Company’s Services segment provides asset protection solutions consisting primarily of non-destructive testing and inspection, and engineering services that are used to evaluate the structural integrity and reliability of energy, industrial and public infrastructure.
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