Equities research analysts expect Matrix Service Co (NASDAQ:MTRX) to announce sales of $349.95 million for the current quarter, Zacks reports. Two analysts have provided estimates for Matrix Service’s earnings, with the lowest sales estimate coming in at $345.00 million and the highest estimate coming in at $354.90 million. Matrix Service reported sales of $245.65 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 42.5%. The firm is scheduled to announce its next earnings results on Wednesday, May 8th.
According to Zacks, analysts expect that Matrix Service will report full year sales of $1.39 billion for the current fiscal year, with estimates ranging from $1.38 billion to $1.39 billion. For the next financial year, analysts anticipate that the business will report sales of $1.50 billion, with estimates ranging from $1.48 billion to $1.52 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Matrix Service.
Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, February 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). Matrix Service had a negative net margin of 1.14% and a positive return on equity of 0.94%. The business had revenue of $340.60 million during the quarter, compared to analyst estimates of $317.23 million. During the same quarter last year, the business earned $0.17 earnings per share. Matrix Service’s revenue for the quarter was up 20.4% on a year-over-year basis.
In other Matrix Service news, insider Alan R. Updyke sold 3,000 shares of Matrix Service stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $21.46, for a total transaction of $64,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rick J. Bennett sold 2,300 shares of Matrix Service stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $21.00, for a total transaction of $48,300.00. Following the transaction, the vice president now directly owns 16,721 shares of the company’s stock, valued at $351,141. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,104 shares of company stock worth $213,622. 1.90% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. boosted its position in Matrix Service by 167.9% during the fourth quarter. Macquarie Group Ltd. now owns 1,436 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 900 shares during the period. Advisors Asset Management Inc. boosted its position in Matrix Service by 2,694.8% during the fourth quarter. Advisors Asset Management Inc. now owns 1,621 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 1,563 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in Matrix Service during the fourth quarter worth $139,000. Pacer Advisors Inc. boosted its position in Matrix Service by 195.3% during the third quarter. Pacer Advisors Inc. now owns 5,936 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 3,926 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in Matrix Service by 413.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,086 shares of the oil and gas company’s stock worth $181,000 after purchasing an additional 8,123 shares during the period. 92.30% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ MTRX traded down $0.23 during midday trading on Friday, reaching $19.58. The company’s stock had a trading volume of 170,500 shares, compared to its average volume of 156,833. The company has a market capitalization of $532.12 million, a PE ratio of 130.53 and a beta of 1.10. Matrix Service has a fifty-two week low of $13.15 and a fifty-two week high of $25.75.
Matrix Service Company Profile
Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.
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