Matrix Service (MTRX) Releases FY19 Earnings Guidance

Matrix Service (NASDAQ:MTRX) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.85-1.15 for the period, compared to the Thomson Reuters consensus estimate of $1.00. The company issued revenue guidance of $1.25-1.35 billion, compared to the consensus revenue estimate of $1.28 billion.

Shares of NASDAQ MTRX traded up $1.41 during mid-day trading on Thursday, reaching $23.67. 4,754 shares of the company’s stock were exchanged, compared to its average volume of 180,024. The firm has a market cap of $582.59 million, a P/E ratio of 156.93 and a beta of 1.01. Matrix Service has a twelve month low of $13.00 and a twelve month high of $25.75.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Monday, September 10th. The oil and gas company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.04). The business had revenue of $293.10 million for the quarter, compared to analyst estimates of $292.69 million. Matrix Service had a positive return on equity of 1.58% and a negative net margin of 1.05%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) EPS. As a group, analysts anticipate that Matrix Service will post 1.01 EPS for the current fiscal year.

A number of research firms recently issued reports on MTRX. BidaskClub downgraded Matrix Service from a strong-buy rating to a buy rating in a report on Thursday, July 19th. ValuEngine downgraded Matrix Service from a strong-buy rating to a buy rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research downgraded Matrix Service from a hold rating to a strong sell rating in a report on Saturday, September 15th.

In related news, Director Tom E. Maxwell sold 17,400 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $25.06, for a total transaction of $436,044.00. Following the completion of the transaction, the director now directly owns 47,889 shares in the company, valued at $1,200,098.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Kevin S. Cavanah sold 21,450 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $25.40, for a total value of $544,830.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,266 shares of company stock valued at $2,369,773. 1.90% of the stock is owned by corporate insiders.

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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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Earnings History and Estimates for Matrix Service (NASDAQ:MTRX)

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