Matrix Service Co (NASDAQ:MTRX) – KeyCorp issued their Q4 2019 EPS estimates for shares of Matrix Service in a research note issued on Tuesday, May 14th. KeyCorp analyst T. Afzal forecasts that the oil and gas company will post earnings of $0.41 per share for the quarter.
Several other equities analysts have also issued reports on MTRX. Zacks Investment Research raised shares of Matrix Service from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. BidaskClub lowered shares of Matrix Service from a “buy” rating to a “hold” rating in a report on Saturday, March 30th. Finally, DA Davidson began coverage on shares of Matrix Service in a report on Wednesday, March 13th. They set a “neutral” rating and a $22.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Matrix Service has an average rating of “Buy” and a consensus price target of $36.67.
Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, May 8th. The oil and gas company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. The business had revenue of $358.89 million for the quarter, compared to analyst estimates of $347.85 million. Matrix Service had a net margin of 0.04% and a return on equity of 4.93%. The company’s quarterly revenue was up 46.1% compared to the same quarter last year. During the same period last year, the company posted ($0.19) earnings per share.
In related news, VP Rick J. Bennett sold 2,300 shares of Matrix Service stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $21.00, for a total transaction of $48,300.00. Following the transaction, the vice president now directly owns 16,721 shares of the company’s stock, valued at $351,141. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Harry Miller sold 1,825 shares of Matrix Service stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $22.25, for a total transaction of $40,606.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,550 shares of company stock worth $500,387. 1.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Stone Ridge Asset Management LLC increased its holdings in Matrix Service by 21.5% during the fourth quarter. Stone Ridge Asset Management LLC now owns 48,349 shares of the oil and gas company’s stock valued at $867,000 after buying an additional 8,566 shares during the period. Martingale Asset Management L P boosted its stake in Matrix Service by 25.2% in the fourth quarter. Martingale Asset Management L P now owns 65,052 shares of the oil and gas company’s stock valued at $1,168,000 after acquiring an additional 13,101 shares in the last quarter. BlackRock Inc. boosted its stake in Matrix Service by 4.0% in the fourth quarter. BlackRock Inc. now owns 4,151,128 shares of the oil and gas company’s stock valued at $74,471,000 after acquiring an additional 158,353 shares in the last quarter. Rhumbline Advisers boosted its stake in Matrix Service by 21.4% in the fourth quarter. Rhumbline Advisers now owns 79,632 shares of the oil and gas company’s stock valued at $1,429,000 after acquiring an additional 14,038 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Matrix Service by 529.7% in the fourth quarter. American Century Companies Inc. now owns 290,557 shares of the oil and gas company’s stock valued at $5,213,000 after acquiring an additional 244,412 shares in the last quarter. 96.28% of the stock is currently owned by institutional investors.
Matrix Service Company Profile
Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.
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