Mistras Group Inc. (MG) Posts Earnings Results, Beats Expectations By $0.02 EPS
Mistras Group Inc. (NYSE:MG) released its quarterly earnings results on Thursday. 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 business earned $168.40 million during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the company earned $0.23 earnings per share. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. Mistras Group updated its FY17 guidance to $0.88-0.97 EPS.
Shares of Mistras Group (NYSE:MG) opened at 23.33 on Friday. The firm has a 50-day moving average price of $23.82 and a 200-day moving average price of $24.47. The company has a market capitalization of $675.52 million, a PE ratio of 28.45 and a beta of 1.20. Mistras Group has a 1-year low of $17.84 and a 1-year high of $26.47.
In other Mistras Group news, insider Dennis Bertolotti sold 21,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $24.97, for a total value of $524,370.00. Following the completion of the transaction, the insider now directly owns 101,062 shares in the company, valued at $2,523,518.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 45.60% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in MG. Bogle Investment Management L P DE acquired a new stake in Mistras Group during the first quarter worth about $2,591,000. Wellington Management Group LLP boosted its stake in Mistras Group by 2.7% in the first quarter. Wellington Management Group LLP now owns 2,881,038 shares of the company’s stock worth $71,364,000 after buying an additional 74,746 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Mistras Group by 26.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 348,795 shares of the company’s stock worth $8,326,000 after buying an additional 72,650 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Mistras Group by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 980,132 shares of the company’s stock worth $23,395,000 after buying an additional 61,609 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Mistras Group during the second quarter worth about $1,318,000. 56.35% of the stock is owned by institutional investors.
A number of research firms have commented on MG. TD Securities decreased their price objective on shares of Mistras Group from $51.00 to $46.00 and set a “buy” rating for the company in a report on Monday, July 11th. Zacks Investment Research raised shares of Mistras Group from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Friday, July 22nd. CIBC lifted their price objective on shares of Mistras Group from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 9th. Finally, Robert W. Baird raised shares of Mistras Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $27.00 to $28.00 in a report on Friday, August 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $41.75.
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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