Matrix Service (NASDAQ:MTRX) Releases Earnings Results, Misses Expectations By $0.37 EPS

Matrix Service (NASDAQ:MTRX) released its quarterly earnings results on Sunday. The oil and gas company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.37), MarketWatch Earnings reports. Matrix Service had a negative return on equity of 5.13% and a negative net margin of 3.78%. During the same period last year, the business posted ($0.01) EPS.

NASDAQ:MTRX opened at $11.03 on Tuesday. The firm has a market capitalization of $292.52 million, a price-to-earnings ratio of -11.03 and a beta of 1.74. Matrix Service has a twelve month low of $7.12 and a twelve month high of $16.32. The stock’s 50 day moving average price is $10.87 and its two-hundred day moving average price is $11.94.

Several large investors have recently bought and sold shares of MTRX. Morgan Stanley increased its position in shares of Matrix Service by 212.7% during the 2nd quarter. Morgan Stanley now owns 242,979 shares of the oil and gas company’s stock worth $2,551,000 after purchasing an additional 165,270 shares during the last quarter. Millennium Management LLC bought a new position in shares of Matrix Service during the 2nd quarter worth approximately $258,000. Finally, Royal Bank of Canada boosted its stake in shares of Matrix Service by 48.7% during the 2nd 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 during the period. 84.58% of the stock is currently owned by hedge funds and other institutional investors.

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

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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