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

Matrix Service (NASDAQ:MTRX) issued its earnings results on Wednesday. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05, FiscalAI reports. Matrix Service had a negative net margin of 0.30% and a positive return on equity of 5.32%. The company had revenue of $219.40 million for the quarter, compared to the consensus estimate of $239.78 million.

Matrix Service Stock Down 4.5%

Shares of NASDAQ:MTRX traded down $0.43 during midday trading on Wednesday, hitting $9.13. The stock had a trading volume of 524,395 shares, compared to its average volume of 467,097. Matrix Service has a fifty-two week low of $8.85 and a fifty-two week high of $15.97. The company has a market capitalization of $258.29 million, a P/E ratio of -101.44, a price-to-earnings-growth ratio of 0.89 and a beta of 1.03. The company’s 50-day moving average price is $10.14 and its 200-day moving average price is $11.74.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MTRX. Weiss Ratings lowered 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 target price on shares of Matrix Service in a research note on Friday, September 4th. One investment 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.