Matrix Service (MTRX) Updates FY18 Earnings Guidance

Matrix Service (NASDAQ:MTRX) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.55-0.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.84. The company issued revenue guidance of $1.15-1.225 billion, compared to the consensus revenue estimate of $1.23 billion.

A number of research firms have recently commented on MTRX. BidaskClub lowered shares of Matrix Service from a strong-buy rating to a buy rating in a research report on Saturday, January 6th. Zacks Investment Research lowered shares of Matrix Service from a buy rating to a hold rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $18.00.

Shares of Matrix Service (NASDAQ MTRX) traded down $0.20 during mid-day trading on Wednesday, reaching $16.75. 177,067 shares of the company were exchanged, compared to its average volume of 190,137. Matrix Service has a fifty-two week low of $7.80 and a fifty-two week high of $21.50. The company has a market capitalization of $452.05, a price-to-earnings ratio of -76.14 and a beta of 0.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.74 and a quick ratio of 1.72.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Tuesday, November 7th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.08. Matrix Service had a negative net margin of 0.51% and a negative return on equity of 1.75%. The business had revenue of $269.91 million for the quarter, compared to analyst estimates of $290.56 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Matrix Service’s revenue was down 21.0% compared to the same quarter last year. equities analysts anticipate that Matrix Service will post 0.69 EPS for the current fiscal year.

In related news, CEO John R. Hewitt sold 5,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $17.66, for a total transaction of $88,300.00. Following the transaction, the chief executive officer now owns 283,529 shares of the company’s stock, valued at $5,007,122.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.

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About Matrix Service

Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

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