Matrix Service (NASDAQ:MTRX) Releases Earnings Results, Beats Estimates By $0.06 EPS

Matrix Service (NASDAQ:MTRX) issued its earnings results on Wednesday. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06, Zacks reports. Matrix Service had a negative return on equity of 8.56% and a negative net margin of 2.30%.

Matrix Service Stock Down 0.9%

NASDAQ MTRX traded down $0.13 on Wednesday, reaching $13.80. The company had a trading volume of 424,200 shares, compared to its average volume of 274,757. The stock has a market capitalization of $388.19 million, a P/E ratio of -20.29, a P/E/G ratio of 4.14 and a beta of 1.02. The company’s fifty day moving average is $11.62 and its 200 day moving average is $12.22. Matrix Service has a 52-week low of $9.88 and a 52-week high of $16.10.

Insider Transactions at Matrix Service

In other Matrix Service news, VP Nancy E. Austin sold 4,193 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $11.29, for a total value of $47,338.97. Following the completion of the transaction, the vice president owned 106,138 shares in the company, valued at $1,198,298.02. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Matrix Service by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,522,943 shares of the company’s stock valued at $19,920,000 after purchasing an additional 60,955 shares during the period. Westerly Capital Management LLC grew its stake in Matrix Service by 34.1% in the 3rd quarter. Westerly Capital Management LLC now owns 1,100,000 shares of the company’s stock valued at $14,388,000 after purchasing an additional 280,000 shares during the period. Gendell Jeffrey L grew its stake in Matrix Service by 11.7% in the 4th quarter. Gendell Jeffrey L now owns 1,057,561 shares of the company’s stock valued at $12,373,000 after purchasing an additional 111,087 shares during the period. Geode Capital Management LLC grew its stake in Matrix Service by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 667,970 shares of the company’s stock valued at $7,817,000 after purchasing an additional 23,358 shares during the period. Finally, Millennium Management LLC grew its stake in Matrix Service by 46.5% in the 3rd quarter. Millennium Management LLC now owns 630,396 shares of the company’s stock valued at $8,246,000 after purchasing an additional 200,189 shares during the period. Institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Northland Securities set a $24.00 price target on Matrix Service in a research report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a research report on Tuesday, April 21st. Finally, DA Davidson reissued a “buy” rating and issued a $17.00 price target on shares of Matrix Service in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

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.