Montrose Environmental Group (NYSE:MEG) Announces Earnings Results, Misses Expectations By $0.19 EPS

Montrose Environmental Group (NYSE:MEG) released its quarterly earnings data on Tuesday. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.19), Zacks reports. Montrose Environmental Group had a negative net margin of 5.10% and a positive return on equity of 0.46%. Montrose Environmental Group updated its FY 2025 guidance to EPS.

Montrose Environmental Group Stock Performance

MEG stock traded down $0.53 during mid-day trading on Tuesday, reaching $24.57. 409,443 shares of the stock traded hands, compared to its average volume of 469,704. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.60. Montrose Environmental Group has a 52 week low of $10.51 and a 52 week high of $32.00. The business has a 50-day moving average of $28.57 and a two-hundred day moving average of $23.88. The firm has a market capitalization of $867.08 million, a PE ratio of -16.27, a P/E/G ratio of 2.89 and a beta of 1.84.

Institutional Investors Weigh In On Montrose Environmental Group

A number of hedge funds have recently bought and sold shares of MEG. Alliancebernstein L.P. boosted its holdings in Montrose Environmental Group by 3,407.7% during the second quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock valued at $28,080,000 after acquiring an additional 1,246,199 shares during the period. Marshall Wace LLP boosted its holdings in Montrose Environmental Group by 245.0% during the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after acquiring an additional 272,444 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Montrose Environmental Group by 39.6% during the first quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock valued at $4,663,000 after acquiring an additional 92,671 shares during the period. Bamco Inc. NY boosted its holdings in Montrose Environmental Group by 2.5% during the second quarter. Bamco Inc. NY now owns 2,764,395 shares of the company’s stock valued at $60,513,000 after acquiring an additional 68,713 shares during the period. Finally, Caxton Associates LLP bought a new stake in Montrose Environmental Group during the second quarter valued at about $597,000. 87.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MEG has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th. Wall Street Zen raised Montrose Environmental Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $31.00 price objective (up previously from $30.00) on shares of Montrose Environmental Group in a research report on Friday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, Zacks Research cut shares of Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Montrose Environmental Group has a consensus rating of “Hold” and a consensus target price of $33.17.

About Montrose Environmental Group

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.