-0.23 USD EPS expected for the Matrix service (NASDAQ:MTRX) this quarter

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Stock analysts expect Matrix Service Inc (NASDAQ:MTRX – Get Rating) to post earnings of ($0.23) per share for the current quarter, reports Zacks Investment Research. No analyst has made any earnings estimates for Matrix Service. Matrix Service reported earnings per share of ($0.43) in the same quarter last year, suggesting a positive year-over-year growth rate of 46.5%. The company is expected to release its next earnings report on Monday, May 9.

According to Zacks, analysts expect Matrix Service to report annual earnings of ($1.17) per share for the current fiscal year. For next year, analysts expect the company to post earnings of $0.45 per share. Zacks’ earnings per share calculations are an average average based on a survey of sell-side analysts who follow Matrix Service.

Matrix Service (NASDAQ:MTRX – Get Rating) last released its quarterly earnings data on Monday, February 7. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the Zacks consensus estimate of ($0.26) by ($0.12). Matrix Service had a negative return on equity of 17.65% and a negative net margin of 10.11%. In the same quarter last year, the company achieved EPS of ($0.03).

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MTRX has been the subject of a number of research analyst reports. Zacks Investment Research moved Matrix Service shares from a “hold” rating to a “sell” rating in a Friday, Feb. 11 research report. StockNews.com upgraded Matrix Service shares from a “sell” rating to a “hold” rating in a Thursday, Feb. 17, report.

NASDAQ: MTRX was down $0.23 during Friday trading hours, hitting $8.52. 406,795 shares of the company were traded, against an average volume of 390,135. The stock’s 50-day moving average is $7.27 and its 200-day moving average is $8.88. The company has a market capitalization of $228.19 million, a PE ratio of -3.44 and a beta of 1.63. Matrix Service has a twelve month minimum of $6.18 and a twelve month maximum of $16.23.

In other news, CEO John R. Hewitt acquired 10,000 shares of the company in a deal that took place on Wednesday, December 22. The shares were purchased at an average price of $6.97 per share, with a total value of $69,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Vice Chairman Kevin A. Durkin acquired 7,800 shares of the company in a transaction that took place on Monday, February 14. The shares were purchased at an average cost of $6.36 per share, with a total value of $49,608.00. Disclosure of this purchase can be found here. Insiders bought 24,800 shares of the company valued at $166,838 in the past ninety days. Insiders hold 2.80% of the shares of the company.

Several institutional investors and hedge funds have recently changed their positions in the stock. Royal Bank of Canada increased its stake in Matrix Service by 48.7% during the second quarter. Royal Bank of Canada now owns 3,284 shares of the oil and gas company worth $35,000 after buying an additional 1,075 shares during the period. Alpha Paradigm Partners LLC bought a new position in Matrix Service during the fourth quarter worth approximately $47,000. UBS Group AG increased its stake in Matrix Service by 98.0% during the third quarter. UBS Group AG now owns 5,415 shares in the oil and gas company worth $57,000 after purchasing an additional 2,680 shares during the period. Metropolitan Life Insurance Co NY bought a new position in Matrix Service during the third quarter worth approximately $75,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Matrix Service during the fourth quarter worth approximately $87,000. 77.58% of the shares are held by hedge funds and other institutional investors.

About Matrix Service (Get an assessment)

Matrix Service Co provides engineering, manufacturing, infrastructure, construction and maintenance services. It operates through the following segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions. The Power Utilities and Infrastructure segment includes power delivery services provided to investor-owned utilities, including construction of new substations, upgrades of existing substations, transmission line installations and distribution, upgrades and maintenance, and storm emergency and restoration services.

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