Zacks: Analysts expect Matrix Service (NASDAQ: MTRX) to post earnings per share of $ 0.28

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Stock analysts expect Matrix Service (NASDAQ: MTRX) to report earnings of ($ 0.28) per share for the current fiscal quarter, according to Zacks investment research. Zero analysts provided revenue estimates for Matrix Service. Matrix Service reported earnings of ($ 0.03) per share for the same quarter last year, indicating a negative year-over-year growth rate of 833.3%. The company is expected to release its next quarterly results on Monday, February 14.

According to Zacks, analysts expect Matrix Service to report annual earnings of ($ 0.75) per share for the current year. For next year, analysts expect the company to report earnings of $ 0.51 per share. Zacks Investment Research’s BPA calculations are an average based on a survey of research analysts who cover Matrix Service.

Matrix Service (NASDAQ: MTRX) last announced its quarterly earnings data on Sunday, November 7. The oil and gas company reported ($ 0.60) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of ($ 0.22) ($ 0.38). The company reported sales of $ 168.09 million in the quarter. Matrix Service had a negative net margin of 6.94% and a negative return on equity of 13.51%. During the same period of the previous year, the company achieved earnings per share ($ 0.12).

Several research analysts recently commented on the title. DA Davidson reissued a “buy” note on Matrix Service shares in a research note on Thursday, September 2. Zacks investment research downgraded Matrix Service’s stock from a “hold” rating to a “strong sell” rating in a report released on Friday, September 17.

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In addition, director John D. Chandler acquired 7,000 shares of the company in a transaction on Tuesday, December 21. The shares were purchased at an average price of $ 6.79 per share, for a total value of $ 47,530.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, director John D. Chandler bought 5,000 shares of the company in a transaction dated Thursday, September 23. The stock was acquired at an average cost of $ 9.92 per share, for a total transaction of $ 49,600.00. Disclosure of this purchase can be found here. 2.80% of the shares are currently held by insiders of the company.

A number of hedge funds and other institutional investors have recently bought and sold shares of MTRX. Bank of New York Mellon Corp increased its holdings in Matrix Service by 32.6% in the second quarter. Bank of New York Mellon Corp now owns 2,417,530 shares of the oil and gas company valued at $ 25,384,000 after purchasing an additional 593,955 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Matrix Service by 41.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 618,610 shares of the oil and gas company valued at $ 6,471,000 after purchasing an additional 180,810 shares in the last quarter. Morgan Stanley increased its stake in Matrix Service by 212.7% in the second quarter. Morgan Stanley now owns 242,979 shares of the oil and gas company valued at $ 2,551,000 after purchasing an additional 165,270 shares in the last quarter. BlackRock Inc. increased its stake in Matrix Service by 3.4% in the second quarter. BlackRock Inc. now owns 4,809,247 shares of the oil and gas company valued at $ 50,498,000 after purchasing an additional 156,967 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA increased its stake in Matrix Service by 23.7% in the second quarter. Rutabaga Capital Management LLC MA now owns 648,313 shares of the oil and gas company valued at $ 6,807,000 after purchasing an additional 124,109 shares in the last quarter. 83.98% of the shares are held by hedge funds and other institutional investors.

The NASDAQ MTRX opened at $ 6.88 on Wednesday. The company has a 50-day simple moving average of $ 9.57 and a 200-day simple moving average of $ 10.31. Matrix Service has a one-year minimum of $ 6.52 and a one-year maximum of $ 16.32. The company has a market cap of $ 184.14 million, a price-to-earnings ratio of -4.00 and a beta of 1.67.

About the Matrix service

Matrix Service Co provides engineering, manufacturing, infrastructure, construction and maintenance services. It operates in the following segments: utility and power infrastructure, processing and industrial facilities, and storage and terminal solutions. The utility and power infrastructure segment includes power delivery services provided to investor-owned utilities, including construction of new substations, upgrades to existing substations, line installations transmission and distribution, upgrades and maintenance, as well as emergency and storm recovery services.

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