Mistras Group Inc. (MG) to Post Q2 2017 Earnings of $0.34 Per Share, KeyCorp Forecasts
Mistras Group Inc. (NYSE:MG) – Research analysts at KeyCorp cut their Q2 2017 earnings per share (EPS) estimates for Mistras Group in a report released on Monday. KeyCorp analyst M. Tucker now expects that the firm will post earnings of $0.34 per share for the quarter, down from their prior estimate of $0.42. KeyCorp also issued estimates for Mistras Group’s Q3 2017 earnings at $0.12 EPS, Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $0.95 EPS and FY2018 earnings at $1.16 EPS.
Mistras Group (NYSE:MG) last released its quarterly earnings results on Thursday, October 6th. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $168.40 million for the quarter. Mistras Group had a net margin of 3.44% and a return on equity of 10.22%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded 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. TD Securities reduced 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. Robert W. Baird upgraded shares of Mistras Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $27.00 to $28.00 in a report on Friday, August 12th. Finally, CIBC lifted 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.75.
Mistras Group (NYSE:MG) traded up 2.07% on Thursday, reaching $20.69. 46,271 shares of the company’s stock traded hands. The company’s 50 day moving average is $23.31 and its 200-day moving average is $24.30. Mistras Group has a 52-week low of $18.02 and a 52-week high of $26.47. The stock has a market cap of $599.49 million, a price-to-earnings ratio of 25.54 and a beta of 1.20.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rational Advisors LLC bought a new position in Mistras Group during the second quarter worth $128,000. PNC Financial Services Group Inc. boosted its position in Mistras Group by 97.0% in the second quarter. PNC Financial Services Group Inc. now owns 6,425 shares of the company’s stock worth $153,000 after buying an additional 3,164 shares during the last quarter. BlackRock Group LTD boosted its position in 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 bought a new position in Mistras Group during the second quarter worth $186,000. Finally, BlackRock Advisors LLC boosted its position in 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. Hedge funds and other institutional investors own 56.35% of the company’s stock.
In related news, insider Dennis Bertolotti sold 21,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $24.97, for a total transaction of $524,370.00. Following 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. Corporate insiders own 45.60% of the company’s stock.
Mistras Group Company Profile
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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