Jefferies Financial Group Research Analysts Decrease Earnings Estimates for MAYVILLE ENGR C/SH (NYSE:MEC)

MAYVILLE ENGR C/SH (NYSE:MEC) – Equities research analysts at Jefferies Financial Group lowered their Q3 2019 earnings per share (EPS) estimates for shares of MAYVILLE ENGR C/SH in a research note issued to investors on Sunday, August 11th. Jefferies Financial Group analyst S. Volkmann now anticipates that the company will post earnings of $0.22 per share for the quarter, down from their prior estimate of $0.31. Jefferies Financial Group has a “Buy” rating on the stock. Jefferies Financial Group also issued estimates for MAYVILLE ENGR C/SH’s Q4 2019 earnings at $0.37 EPS.

MAYVILLE ENGR C/SH (NYSE:MEC) last released its earnings results on Tuesday, August 6th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.15. The business had revenue of $145.13 million for the quarter, compared to analysts’ expectations of $144.43 million.



Several other equities analysts have also recently commented on the company. Citigroup assumed coverage on MAYVILLE ENGR C/SH in a research note on Monday, June 3rd. They set a “buy” rating for the company. Robert W. Baird assumed coverage on MAYVILLE ENGR C/SH in a research note on Monday, June 3rd. They set an “outperform” rating and a $19.00 target price for the company. Zacks Investment Research cut MAYVILLE ENGR C/SH from a “hold” rating to a “sell” rating in a research note on Thursday. UBS Group started coverage on MAYVILLE ENGR C/SH in a research note on Monday, June 3rd. They set a “neutral” rating and a $17.00 target price for the company. Finally, William Blair started coverage on MAYVILLE ENGR C/SH in a research note on Monday, June 3rd. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $18.00.

MAYVILLE ENGR C/SH stock opened at $11.81 on Wednesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.45 and a quick ratio of 0.84. The firm’s 50 day simple moving average is $13.92. MAYVILLE ENGR C/SH has a 52 week low of $11.16 and a 52 week high of $17.40.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Skylands Capital LLC bought a new position in MAYVILLE ENGR C/SH during the second quarter worth $1,422,000. Roubaix Capital LLC bought a new position in MAYVILLE ENGR C/SH during the second quarter worth $1,881,000. Mesirow Financial Investment Management Inc. bought a new position in MAYVILLE ENGR C/SH during the second quarter worth $727,000. FNY Investment Advisers LLC bought a new position in MAYVILLE ENGR C/SH during the second quarter worth $59,000. Finally, JPMorgan Chase & Co. bought a new position in MAYVILLE ENGR C/SH during the second quarter worth $25,000. Hedge funds and other institutional investors own 6.22% of the company’s stock.

In other news, CFO Todd M. Butz acquired 5,474 shares of MAYVILLE ENGR C/SH stock in a transaction that occurred on Wednesday, June 12th. The shares were purchased at an average cost of $13.10 per share, for a total transaction of $71,709.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy L. Christen acquired 7,500 shares of MAYVILLE ENGR C/SH stock in a transaction that occurred on Wednesday, June 12th. The shares were purchased at an average price of $12.92 per share, for a total transaction of $96,900.00. The disclosure for this purchase can be found here. Insiders have purchased 64,434 shares of company stock worth $826,899 over the last 90 days.

About MAYVILLE ENGR C/SH

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