Matrix Service (NASDAQ:MTRX) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Matrix Service (NASDAQ:MTRX) announced its quarterly earnings data on Wednesday. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05, FiscalAI reports. Matrix Service had a net margin of 0.83% and a return on equity of 10.11%. The business had revenue of $219.40 million for the quarter, compared to analysts’ expectations of $239.78 million.

Matrix Service Trading Up 11.4%

NASDAQ:MTRX traded up $0.98 on Friday, hitting $9.60. The company had a trading volume of 639,946 shares, compared to its average volume of 315,754. The stock has a market capitalization of $271.69 million, a price-to-earnings ratio of 36.94, a PEG ratio of 0.85 and a beta of 1.03. The firm has a 50 day moving average of $10.10 and a two-hundred day moving average of $11.71. Matrix Service has a 52 week low of $8.47 and a 52 week high of $14.64.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MTRX shares. Weiss Ratings cut Matrix Service from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 30th. Northland Securities set a $16.00 price target on Matrix Service in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.50.

Matrix Service Company Profile

Matrix Service Company (NASDAQ:MTRX) is an engineering, construction, and maintenance services provider serving the energy and industrial markets. Based in Tulsa, Oklahoma, the company supports the development, operation, and maintenance of critical infrastructure for customers across North America.

Through its operating businesses, Matrix Service provides engineering, procurement, fabrication, construction, commissioning, maintenance, and repair services. Its capabilities include aboveground storage tanks, terminals, pipelines, process facilities, power infrastructure, and other energy-related assets.