Montrose Environmental Group (MEG) to Release Earnings on Tuesday

Montrose Environmental Group (NYSE:MEG) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Montrose Environmental Group has set its FY 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.08. The business had revenue of $165.74 million for the quarter, compared to analysts’ expectations of $157.31 million. Montrose Environmental Group had a negative net margin of 4.94% and a negative return on equity of 5.64%. On average, analysts expect Montrose Environmental Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Montrose Environmental Group Price Performance

Shares of Montrose Environmental Group stock traded up $0.03 during trading on Tuesday, reaching $43.29. 40,845 shares of the stock traded hands, compared to its average volume of 240,994. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.59 and a quick ratio of 1.59. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -26.94 and a beta of 2.00. Montrose Environmental Group has a 52-week low of $21.96 and a 52-week high of $45.96. The business has a fifty day simple moving average of $39.33 and a two-hundred day simple moving average of $33.05.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MEG shares. Stifel Nicolaus reiterated a “buy” rating and set a $51.00 target price (up from $48.00) on shares of Montrose Environmental Group in a research report on Wednesday, April 3rd. Needham & Company LLC restated a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. boosted their price objective on Montrose Environmental Group from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc operates as an environmental services company in the United States, Canada, and internationally. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consulting and environmental audits and permits for current operations; facility upgrades; new projects; decommissioning projects; and development projects.