Matrix Service Co (MTRX) Updates FY17 Earnings Guidance

Matrix Service Co (NASDAQ:MTRX) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of near breakeven for the period, compared to the Thomson Reuters consensus estimate of $0.03.

Matrix Service Co (NASDAQ:MTRX) remained flat at $8.85 during trading on Friday. 347,686 shares of the company were exchanged. Matrix Service Co has a 12-month low of $8.55 and a 12-month high of $23.45. The company has a market cap of $235.41 million, a PE ratio of 23.85 and a beta of 1.31. The stock’s 50-day moving average price is $13.64 and its 200 day moving average price is $18.04.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Tuesday, May 9th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.66. Matrix Service had a return on equity of 8.78% and a net margin of 2.12%. The firm had revenue of $251.20 million during the quarter, compared to analysts’ expectations of $248.51 million. During the same period in the prior year, the firm posted $0.16 earnings per share. Matrix Service’s revenue for the quarter was down 18.8% compared to the same quarter last year. Equities analysts predict that Matrix Service Co will post ($0.01) earnings per share for the current year.

Several research firms have issued reports on MTRX. TheStreet lowered shares of Matrix Service from a b- rating to a c+ rating in a report on Friday, February 10th. Zacks Investment Research upgraded shares of Matrix Service from a sell rating to a hold rating in a research note on Saturday, April 15th. Finally, Stephens reiterated a hold rating on shares of Matrix Service in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $23.50.

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A hedge fund recently raised its stake in Matrix Service stock. State Street Corp raised its position in shares of Matrix Service Co (NASDAQ:MTRX) by 12.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 838,988 shares of the oil and gas company’s stock after buying an additional 90,999 shares during the period. State Street Corp owned about 3.15% of Matrix Service worth $13,842,000 as of its most recent SEC filing. 90.12% of the stock is owned by institutional investors.

About Matrix Service

Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

12 Month Chart for NASDAQ:MTRX

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