Mayville Engineering (NYSE:MEC) Releases Earnings Results, Beats Expectations By $0.05 EPS

Mayville Engineering (NYSE:MEC) issued its earnings results on Tuesday. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05, FiscalAI reports. Mayville Engineering had a return on equity of 5.85% and a net margin of 2.29%.The business had revenue of $144.31 million during the quarter, compared to analysts’ expectations of $141.36 million. Mayville Engineering updated its FY 2025 guidance to EPS.

Mayville Engineering Stock Performance

Mayville Engineering stock opened at $16.24 on Thursday. The stock has a market cap of $330.00 million, a P/E ratio of 28.00 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $14.60 and a 200-day moving average of $14.92. Mayville Engineering has a 52 week low of $11.72 and a 52 week high of $19.05.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MEC shares. Northland Securities upgraded Mayville Engineering from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Tuesday, August 12th. Citigroup restated a “buy” rating and issued a $21.00 price target (up previously from $17.00) on shares of Mayville Engineering in a report on Monday, July 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Mayville Engineering in a report on Wednesday, October 8th. Craig Hallum set a $24.00 price target on Mayville Engineering and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Northland Capmk upgraded Mayville Engineering from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $21.50.

Hedge Funds Weigh In On Mayville Engineering

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Mayville Engineering by 20.7% during the second quarter. JPMorgan Chase & Co. now owns 7,936 shares of the company’s stock worth $127,000 after purchasing an additional 1,359 shares during the last quarter. Rhumbline Advisers lifted its stake in Mayville Engineering by 8.3% during the second quarter. Rhumbline Advisers now owns 19,969 shares of the company’s stock worth $319,000 after purchasing an additional 1,526 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Mayville Engineering by 58.5% during the second quarter. Raymond James Financial Inc. now owns 24,447 shares of the company’s stock worth $390,000 after purchasing an additional 9,026 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Mayville Engineering by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 39,647 shares of the company’s stock worth $633,000 after purchasing an additional 2,958 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Mayville Engineering by 158.6% during the first quarter. Jane Street Group LLC now owns 47,194 shares of the company’s stock worth $634,000 after purchasing an additional 28,946 shares during the last quarter. 45.44% of the stock is currently owned by institutional investors.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.