Matrix Service (NASDAQ:MTRX) Issues Earnings Results, Misses Estimates By $0.37 EPS

Matrix Service (NASDAQ:MTRX) issued its quarterly earnings results on Sunday. The oil and gas company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.37), MarketWatch Earnings reports. Matrix Service had a negative return on equity of 5.13% and a negative net margin of 3.78%. During the same quarter in the previous year, the company posted ($0.01) earnings per share.

Shares of NASDAQ MTRX traded down $1.11 during trading on Tuesday, hitting $9.92. 2,857 shares of the company were exchanged, compared to its average volume of 63,554. The company has a market cap of $263.08 million, a price-to-earnings ratio of -9.70 and a beta of 1.74. Matrix Service has a 1 year low of $7.12 and a 1 year high of $16.32. The firm’s fifty day moving average price is $10.87 and its 200 day moving average price is $11.94.

A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Matrix Service from a “hold” rating to a “sell” rating in a report on Thursday, August 26th. DA Davidson reaffirmed a “buy” rating on shares of Matrix Service in a report on Thursday, September 2nd. Finally, TheStreet cut shares of Matrix Service from a “c-” rating to a “d+” rating in a report on Thursday, June 10th.

Several institutional investors have recently added to or reduced their stakes in MTRX. Morgan Stanley lifted its holdings in Matrix Service by 212.7% in the 2nd quarter. Morgan Stanley now owns 242,979 shares of the oil and gas company’s stock valued at $2,551,000 after purchasing an additional 165,270 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Matrix Service during the 2nd quarter valued at about $258,000. Finally, Royal Bank of Canada increased its stake in shares of Matrix Service by 48.7% during the 2nd quarter. Royal Bank of Canada now owns 3,284 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 1,075 shares during the last quarter. Institutional investors and hedge funds own 84.58% of the company’s stock.

About Matrix Service

Matrix Service Co engages in the provision of engineering, fabrication, infrastructure, construction, and maintenance services. It operates through the following segments: Electrical Infrastructure; Oil, Gas and Chemical; Storage Solutions; and Industrial. The Electrical Infrastructure segment includes the construction of new substations, upgrades of existing substations, short-run transmission line installations, distribution upgrades and maintenance, as well as emergency and storm restoration services.

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Earnings History for Matrix Service (NASDAQ:MTRX)

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