Matrix Service Company (MTRX) Posts Earnings Results, Misses Expectations By $0.02 EPS
Matrix Service Company (NASDAQ:MTRX) posted its quarterly earnings results on Wednesday. The oil and gas company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.02, Briefing.com reports. Matrix Service had a net margin of 0.78% and a return on equity of 3.07%. The firm had revenue of $291.84 million for the quarter, compared to analysts’ expectations of $281.82 million. During the same quarter in the previous year, the company earned $0.34 EPS. The company’s quarterly revenue was down 18.9% compared to the same quarter last year. Matrix Service updated its FY18 guidance to $0.55-0.75 EPS.
Matrix Service (NASDAQ MTRX) traded up 12.60% during midday trading on Thursday, hitting $13.85. 187,561 shares of the stock were exchanged. The company has a market cap of $368.41 million, a PE ratio of 37.33 and a beta of 0.70. The firm’s 50 day moving average price is $10.40 and its 200 day moving average price is $11.88. Matrix Service has a 12 month low of $7.80 and a 12 month high of $23.45.
MTRX has been the topic of a number of recent analyst reports. TheStreet cut shares of Matrix Service from a “c-” rating to a “d+” rating in a report on Wednesday, May 24th. Stephens reiterated a “hold” rating on shares of Matrix Service in a report on Monday, May 15th. Zacks Investment Research upgraded shares of Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine cut shares of Matrix Service from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Matrix Service from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has an average rating of “Hold”.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Matrix Service by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,248,294 shares of the oil and gas company’s stock valued at $21,022,000 after purchasing an additional 195,754 shares during the period. Vanguard Group Inc. lifted its stake in shares of Matrix Service by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,492,327 shares of the oil and gas company’s stock valued at $13,953,000 after purchasing an additional 86,259 shares during the period. Smith Graham & Co. Investment Advisors LP lifted its stake in shares of Matrix Service by 95.5% in the 2nd quarter. Smith Graham & Co. Investment Advisors LP now owns 904,271 shares of the oil and gas company’s stock valued at $8,455,000 after purchasing an additional 441,659 shares during the period. State Street Corp lifted its stake in shares of Matrix Service by 12.2% in the 1st quarter. State Street Corp now owns 838,988 shares of the oil and gas company’s stock valued at $13,842,000 after purchasing an additional 90,999 shares during the period. Finally, Boston Partners lifted its stake in shares of Matrix Service by 32.0% in the 2nd quarter. Boston Partners now owns 740,510 shares of the oil and gas company’s stock valued at $6,923,000 after purchasing an additional 179,480 shares during the period. Hedge funds and other institutional investors own 85.55% of the company’s stock.
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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 segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.
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