Matrix Service Co. (NASDAQ:MTRX) – Equities researchers at DA Davidson cut their FY2017 earnings estimates for Matrix Service in a research note issued to investors on Monday. DA Davidson analyst J. Rogers now expects that the firm will post earnings of $1.27 per share for the year, down from their prior estimate of $1.30. DA Davidson has a “Buy” rating and a $20.00 price target on the stock.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Monday, November 7th. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The business had revenue of $341 million for the quarter, compared to analyst estimates of $345.14 million. Matrix Service had a net margin of 2.12% and a return on equity of 10.09%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 EPS.

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

MTRX has been the subject of several other research reports. Zacks Investment Research downgraded shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 3rd. TheStreet upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $23.20.

Matrix Service (NASDAQ:MTRX) traded up 1.34% during trading on Thursday, hitting $18.90. 229,076 shares of the company traded hands. The firm has a 50 day moving average of $18.33 and a 200 day moving average of $17.33. The firm has a market cap of $501.47 million, a P/E ratio of 18.02 and a beta of 1.38. Matrix Service has a one year low of $14.07 and a one year high of $23.55.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its position in Matrix Service by 0.5% in the first quarter. BlackRock Fund Advisors now owns 1,828,537 shares of the company’s stock valued at $32,365,000 after buying an additional 9,072 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Matrix Service by 46.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 50,400 shares of the company’s stock valued at $892,000 after buying an additional 15,900 shares in the last quarter. James Investment Research Inc. raised its position in shares of Matrix Service by 21.1% in the second quarter. James Investment Research Inc. now owns 41,153 shares of the company’s stock valued at $679,000 after buying an additional 7,180 shares during the period. Glenmede Trust Co. NA raised its position in shares of Matrix Service by 98.5% in the second quarter. Glenmede Trust Co. NA now owns 113,531 shares of the company’s stock valued at $1,872,000 after buying an additional 56,323 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Matrix Service by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 161,961 shares of the company’s stock valued at $2,670,000 after buying an additional 919 shares during the period. Hedge funds and other institutional investors own 91.19% of the company’s stock.

In other Matrix Service news, VP Kevin S. Cavanah sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $18.97, for a total value of $49,322.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John R. Hewitt sold 15,957 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $19.02, for a total transaction of $303,502.14. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.

5 Day Chart for NASDAQ:MTRX

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