Brokerages Set $26.17 Price Target for Montage Resources Corp (MR)

Montage Resources Corp (NYSE:MR) has been assigned an average broker rating score of 3.00 (Hold) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating, two have issued a hold rating and one has issued a strong buy rating on the company.

Analysts have set a 1 year consensus price target of $26.17 for the company and are expecting that the company will post $0.12 EPS for the current quarter, according to Zacks. Zacks has also assigned Montage Resources an industry rank of 49 out of 256 based on the ratings given to its competitors.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Montage Resources from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, April 16th. ValuEngine downgraded shares of Montage Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. Finally, Capital One Financial upgraded shares of Montage Resources from an “underweight” rating to an “equal weight” rating in a research note on Wednesday.

Institutional investors have recently modified their holdings of the stock. Quantamental Technologies LLC bought a new position in Montage Resources during the first quarter valued at approximately $27,000. American International Group Inc. bought a new position in Montage Resources during the first quarter valued at approximately $56,000. Prime Capital Investment Advisors LLC bought a new position in Montage Resources during the first quarter valued at approximately $160,000. California Public Employees Retirement System bought a new position in Montage Resources in the first quarter worth approximately $202,000. Finally, Spark Investment Management LLC bought a new position in Montage Resources in the first quarter worth approximately $308,000.

Shares of NYSE MR traded up $0.73 during midday trading on Wednesday, hitting $10.36. The stock had a trading volume of 964,860 shares, compared to its average volume of 139,833. The company has a market cap of $356.14 million, a PE ratio of 11.12 and a beta of 1.88. Montage Resources has a 52 week low of $9.44 and a 52 week high of $29.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.64.

Montage Resources (NYSE:MR) last issued its earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.91. The firm had revenue of $141.50 million for the quarter, compared to the consensus estimate of $125.10 million. Montage Resources had a net margin of 3.65% and a return on equity of 8.20%. On average, analysts forecast that Montage Resources will post -0.12 earnings per share for the current fiscal year.

Montage Resources Company Profile

Montage Resources Corporation operates as an oil and natural gas exploration and production company. As of December 31, 2018, it had an acreage position comprising approximately 241,000 net acres in Ohio and Pennsylvania; and had estimated proved reserves of 1,864.7 billion cubic feet of natural gas equivalent.

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