Matrix Service (NASDAQ:MTRX) Issues Earnings Results

Matrix Service (NASDAQ:MTRX) posted its quarterly earnings data on Wednesday. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01), Zacks reports. The firm had revenue of $244.53 million during the quarter, compared to the consensus estimate of $247.04 million. Matrix Service had a positive return on equity of 5.32% and a negative net margin of 0.30%.

Matrix Service Stock Performance

NASDAQ MTRX opened at $10.62 on Monday. Matrix Service has a twelve month low of $9.70 and a twelve month high of $15.97. The firm has a 50-day simple moving average of $11.88 and a 200 day simple moving average of $12.09. The stock has a market cap of $300.44 million, a PE ratio of -118.00, a PEG ratio of 0.85 and a beta of 0.98.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Northland Securities set a $16.00 target price on Matrix Service in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Matrix Service has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTRX. Sei Investments Co. lifted its stake in shares of Matrix Service by 7.2% in the 2nd quarter. Sei Investments Co. now owns 15,170 shares of the company’s stock valued at $205,000 after acquiring an additional 1,025 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Matrix Service by 68.9% during the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock worth $34,000 after acquiring an additional 1,032 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Matrix Service by 133.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after acquiring an additional 1,893 shares during the period. Quarry LP bought a new stake in Matrix Service in the third quarter valued at approximately $28,000. Finally, State Street Corp boosted its holdings in Matrix Service by 0.5% in the fourth quarter. State Street Corp now owns 533,485 shares of the company’s stock valued at $6,242,000 after acquiring an additional 2,517 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Matrix Service Company Profile

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.