Matrix Service (NASDAQ:MTRX) Announces Earnings Results

Matrix Service (NASDAQ:MTRX) announced its quarterly earnings data on Sunday. The oil and gas company reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.37), MarketWatch Earnings reports. Matrix Service had a negative net margin of 3.78% and a negative return on equity of 5.13%. During the same quarter in the previous year, the firm earned ($0.01) EPS.

Matrix Service stock opened at $11.03 on Tuesday. The firm has a market capitalization of $292.52 million, a PE ratio of -11.03 and a beta of 1.74. Matrix Service has a one year low of $7.12 and a one year high of $16.32. The stock’s 50 day moving average price is $10.87 and its 200 day moving average price is $11.94.

A number of equities research analysts have issued reports on the company. TheStreet downgraded Matrix Service from a “c-” rating to a “d+” rating in a research report on Thursday, June 10th. Zacks Investment Research cut Matrix Service from a “hold” rating to a “sell” rating in a report on Thursday, August 26th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Matrix Service in a research report on Thursday, September 2nd.

A number of large investors have recently modified their holdings of the business. Morgan Stanley boosted its position in Matrix Service by 212.7% in the 2nd quarter. Morgan Stanley now owns 242,979 shares of the oil and gas company’s stock valued at $2,551,000 after buying an additional 165,270 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Matrix Service during the second quarter worth about $258,000. Finally, Royal Bank of Canada lifted its stake in shares of Matrix Service by 48.7% in the second quarter. Royal Bank of Canada now owns 3,284 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 1,075 shares in the last quarter. 84.58% of the stock is owned by institutional investors.

Matrix Service Company Profile

Matrix Service Co engages in the provision of engineering, fabrication, infrastructure, construction, and maintenance services. It operates through the following segments: Electrical Infrastructure; Oil, Gas and Chemical; Storage Solutions; and Industrial. The Electrical Infrastructure segment includes the construction of new substations, upgrades of existing substations, short-run transmission line installations, distribution upgrades and maintenance, as well as emergency and storm restoration services.

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Earnings History for Matrix Service (NASDAQ:MTRX)

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