“ELY reported 3Q17 adjusted EPS of $0.05, vs. FBR/consensus of ($0.05)/($0.04), reflecting solid +30% sales growth (vs. FBR/consensus: +12.2%/+11.4%). GM leverage was +140 bps (FBR/consensus: +20 bps/+130 bps), with operating expense leverage of +527 bps (FBR/consensus: –60 bps/–75bps). Management raised 2017 top-line guidance to $1,030M–$1,040M (vs. prior $980M–$995M) and EPS of $0.47–$0.51 (vs. $0.40–$0.45 and FBR/Street of $0.44). This was a very solid report and shows that ELY continues to gain market share in both balls and clubs, which is driving greater scale and profit. We continue to like ELY , given its potential for significant growth and margin expansion over the next few years, driven by: (1) market share gains; (2) greater scale, driving leverage in its highly variable cost structure; (3) acquisition opportunities; (4) supply-chain efficiencies; (5) its minority stake in Topgolf, which is rapidly growing; and (6) golf consolidation/improved fundamentals.”,” Noble Financial’s analyst wrote.
A number of other analysts also recently weighed in on MRCY. Zacks Investment Research upgraded Mercury Systems from a hold rating to a buy rating and set a $47.00 price target for the company in a report on Wednesday, July 5th. Jefferies Group LLC restated a hold rating and issued a $43.00 target price on shares of Mercury Systems in a research note on Friday, July 7th. SunTrust Banks, Inc. restated a buy rating and issued a $51.00 target price on shares of Mercury Systems in a research note on Monday, October 2nd. Finally, Robert W. Baird restated a buy rating and issued a $48.00 target price on shares of Mercury Systems in a research note on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Mercury Systems currently has an average rating of Buy and a consensus target price of $49.67.
Shares of Mercury Systems (NASDAQ:MRCY) traded up 0.48% during midday trading on Thursday, hitting $49.99. The company had a trading volume of 254,719 shares. Mercury Systems has a one year low of $25.69 and a one year high of $54.49. The stock’s 50-day moving average price is $50.44 and its 200-day moving average price is $44.22. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 86.19 and a beta of 0.41.
Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.11. Mercury Systems had a return on equity of 6.51% and a net margin of 9.14%. The firm had revenue of $106.10 million during the quarter, compared to the consensus estimate of $105.18 million. During the same period last year, the business posted $0.22 EPS. The business’s revenue was up 21.1% compared to the same quarter last year. Analysts predict that Mercury Systems will post $1.34 EPS for the current year.
In other Mercury Systems news, CEO Mark Aslett sold 4,800 shares of Mercury Systems stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $47.42, for a total transaction of $227,616.00. Following the transaction, the chief executive officer now owns 519,382 shares of the company’s stock, valued at approximately $24,629,094.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Charles A. Speicher sold 7,000 shares of Mercury Systems stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $44.09, for a total transaction of $308,630.00. Following the transaction, the vice president now directly owns 36,983 shares in the company, valued at approximately $1,630,580.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,900 shares of company stock worth $1,120,368. 3.50% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of MRCY. BlackRock Inc. lifted its position in shares of Mercury Systems by 242,823.0% during the 1st quarter. BlackRock Inc. now owns 6,646,372 shares of the technology company’s stock worth $259,540,000 after buying an additional 6,643,636 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Mercury Systems by 323.5% during the 2nd quarter. Wells Fargo & Company MN now owns 2,230,421 shares of the technology company’s stock worth $93,878,000 after buying an additional 1,703,774 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Mercury Systems by 920.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,176 shares of the technology company’s stock worth $48,077,000 after buying an additional 1,110,474 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Mercury Systems by 21.6% during the 1st quarter. Vanguard Group Inc. now owns 3,938,032 shares of the technology company’s stock worth $153,780,000 after buying an additional 700,484 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Mercury Systems by 44.0% during the 1st quarter. State Street Corp now owns 1,488,490 shares of the technology company’s stock worth $58,127,000 after buying an additional 455,128 shares in the last quarter. 96.39% of the stock is currently owned by hedge funds and other institutional investors.
Mercury Systems Company Profile
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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