Montrose Environmental Group (MEG) to Release Quarterly Earnings on Tuesday

Montrose Environmental Group (NYSE:MEG) will issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Montrose Environmental Group has set its FY 2024 guidance at EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.08. The business had revenue of $165.74 million for the quarter, compared to analyst estimates of $157.31 million. Montrose Environmental Group had a negative net margin of 4.94% and a negative return on equity of 5.64%. On average, analysts expect Montrose Environmental Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Montrose Environmental Group Stock Performance

Shares of NYSE:MEG traded up $0.03 during mid-day trading on Tuesday, reaching $43.29. The company had a trading volume of 40,845 shares, compared to its average volume of 240,994. Montrose Environmental Group has a one year low of $21.96 and a one year high of $45.96. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $39.33 and its 200-day moving average price is $33.05. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -26.94 and a beta of 2.00.

Wall Street Analysts Forecast Growth

MEG has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price objective on shares of Montrose Environmental Group in a report on Thursday, April 4th. JPMorgan Chase & Co. raised their target price on Montrose Environmental Group from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $51.00 price target (up from $48.00) on shares of Montrose Environmental Group in a report on Wednesday, April 3rd.

About Montrose Environmental Group

Montrose Environmental Group, Inc operates as an environmental services company in the United States, Canada, and internationally. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consulting and environmental audits and permits for current operations; facility upgrades; new projects; decommissioning projects; and development projects.