Matrix Service (MTRX) Set to Announce Quarterly Earnings on Wednesday

Matrix Service (NASDAQ:MTRX) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, November 7th. Analysts expect the company to announce earnings of $0.07 per share for the quarter. Matrix Service has set its FY19 guidance at $0.85-1.15 EPS.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Monday, September 10th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.04). The company had revenue of $293.10 million during the quarter, compared to analysts’ expectations of $292.69 million. Matrix Service had a negative net margin of 1.05% and a positive return on equity of 1.58%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.04) earnings per share. On average, analysts expect Matrix Service to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of NASDAQ:MTRX opened at $20.79 on Wednesday. The firm has a market capitalization of $555.31 million, a price-to-earnings ratio of 106.95 and a beta of 0.83. Matrix Service has a 52-week low of $13.00 and a 52-week high of $25.75.

In other news, VP Kevin S. Cavanah sold 21,450 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $25.40, for a total value of $544,830.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joseph F. Montalbano sold 34,785 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $22.66, for a total value of $788,228.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,266 shares of company stock valued at $2,369,773. 1.90% of the stock is owned by company insiders.

MTRX has been the subject of several analyst reports. BidaskClub cut Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 19th. Citigroup upped their target price on Matrix Service from $37.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 5th. Zacks Investment Research upgraded Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 4th. Finally, ValuEngine cut Matrix Service from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th.

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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Earnings History for Matrix Service (NASDAQ:MTRX)

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