Mistras Group (MG) Announces Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Mistras Group (NYSE:MG) announced its earnings results on Monday. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.11), Morningstar.com reports. Mistras Group had a return on equity of 6.34% and a net margin of 0.38%. The company had revenue of $182.17 million for the quarter, compared to the consensus estimate of $181.50 million. Mistras Group updated its FY 2018 guidance to EPS.

Mistras Group stock traded down $0.24 during midday trading on Wednesday, reaching $16.87. The stock had a trading volume of 23,282 shares, compared to its average volume of 57,530. Mistras Group has a 12 month low of $16.46 and a 12 month high of $23.83. The firm has a market capitalization of $553.61 million, a price-to-earnings ratio of 39.23, a PEG ratio of 0.75 and a beta of 1.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 2.01.

In related news, insider Sotirios J. Vahaviolos sold 321,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $21.92, for a total value of $7,036,320.00. Following the completion of the sale, the insider now directly owns 10,244,313 shares of the company’s stock, valued at approximately $224,555,340.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 43.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in MG. Bernzott Capital Advisors boosted its stake in Mistras Group by 16.4% during the 2nd quarter. Bernzott Capital Advisors now owns 984,906 shares of the technology company’s stock valued at $18,595,000 after purchasing an additional 139,031 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Mistras Group by 81.9% during the 2nd quarter. Renaissance Technologies LLC now owns 286,100 shares of the technology company’s stock valued at $5,402,000 after purchasing an additional 128,800 shares during the last quarter. Citadel Advisors LLC boosted its stake in Mistras Group by 474.7% during the 2nd quarter. Citadel Advisors LLC now owns 137,228 shares of the technology company’s stock valued at $2,591,000 after purchasing an additional 113,349 shares during the last quarter. Millennium Management LLC boosted its stake in Mistras Group by 145.2% during the 2nd quarter. Millennium Management LLC now owns 178,166 shares of the technology company’s stock valued at $3,364,000 after purchasing an additional 105,503 shares during the last quarter. Finally, Rutabaga Capital Management LLC MA boosted its stake in Mistras Group by 10.0% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 921,404 shares of the technology company’s stock valued at $17,396,000 after purchasing an additional 84,024 shares during the last quarter. Institutional investors and hedge funds own 59.06% of the company’s stock.

A number of analysts recently commented on MG shares. Zacks Investment Research raised Mistras Group from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Friday, August 10th. ValuEngine raised Mistras Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $23.00.

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About Mistras Group

Mistras Group, Inc provides technology-enabled asset protection solutions worldwide. The company operates through three segments: Services, International, and Products and Systems. It offers traditional non-destructive testing, and inspection and engineering services; and designs, manufactures, sells, installs, and services acoustic emission (AE) sensors, instruments, and turn-key systems used for monitoring and testing materials, pressure components, processes, and structures.

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Earnings History for Mistras Group (NYSE:MG)

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