Mirion Technologies (NYSE:MIR) Announces Earnings Results

Key Points

• Mirion Technologies reported $0.12 in quarterly EPS, matching analysts’ consensus, while revenue of $277.8 million exceeded expectations of $275.35 million. EPS improved from $0.01 in the same quarter a year earlier.
• The stock rose 2.7% to $15.33, though it remains well below its 12-month high of $30.28 and trades at a high trailing P/E ratio of 153.26.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $25.12; coverage includes one Strong Buy, seven Buys and two Holds.

Mirion Technologies (NYSE:MIR - Get Free Report) issued its earnings results on Tuesday. The company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.12, Zacks reports. The business had revenue of $277.80 million during the quarter, compared to analysts' expectations of $275.35 million. Mirion Technologies had a return on equity of 6.59% and a net margin of 2.39%. During the same quarter in the prior year, the firm earned $0.01 EPS.

Mirion Technologies Trading Up 2.7%

MIR traded up $0.41 during trading on Tuesday, reaching $15.33. 7,066,375 shares of the stock traded hands, compared to its average volume of 3,780,928. The company has a quick ratio of 2.63, a current ratio of 3.20 and a debt-to-equity ratio of 0.64. The stock's 50-day moving average is $15.54 and its 200 day moving average is $18.52. Mirion Technologies has a 12 month low of $14.04 and a 12 month high of $30.28. The stock has a market capitalization of $3.82 billion, a PE ratio of 153.26 and a beta of 1.10.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Mirion Technologies in a report on Thursday, September 3rd. They set a "buy" rating and a $20.00 target price on the stock. B. Riley Financial lowered their target price on Mirion Technologies from $29.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Morgan Stanley reduced their price target on Mirion Technologies from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Monday, July 13th. Citigroup decreased their price target on Mirion Technologies from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded Mirion Technologies from a "sell (d)" rating to a "hold (c)" rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Mirion Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $25.12.

About Mirion Technologies

Mirion Technologies, Inc develops, manufactures and supplies radiation detection, measurement and analysis technologies. Its products are designed to detect and measure ionizing radiation, monitor exposure and contamination, and support the safe management of radioactive materials and environments.

The company serves a range of end markets, including nuclear power, healthcare, defense and national security, scientific research, industrial operations and laboratories. Its offerings include radiation detectors, dosimetry systems, spectroscopy and monitoring equipment, radiation safety software, and related services.

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