Matrix Service (NASDAQ:MTRX) Issues Quarterly Earnings Results

Key Points

• $0.13 EPS reported for the quarter, beating analysts' consensus of $0.07 by $0.06, but the company still showed a negative net margin (-2.30%) and negative ROE (-8.56%).
• Shares traded down about 0.9% to $13.80 on Wednesday with above-average volume; market cap is roughly $388M and valuation metrics show a negative P/E (−20.29) and a 12‑month range of $9.88–$16.10.
• Analyst coverage is mixed—MarketBeat shows an average rating of "Moderate Buy" with an average price target of $20.50, while individual views range from sell to strong buy (targets cited: $24 and $17).

Matrix Service (NASDAQ:MTRX - Get Free Report) announced its earnings results on Wednesday. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.06, Zacks reports. Matrix Service had a negative net margin of 2.30% and a negative return on equity of 8.56%.

Matrix Service Stock Down 0.9%

NASDAQ MTRX traded down $0.13 during trading hours on Wednesday, hitting $13.80. The company's stock had a trading volume of 424,200 shares, compared to its average volume of 274,757. Matrix Service has a twelve month low of $9.88 and a twelve month high of $16.10. The firm has a market capitalization of $388.19 million, a P/E ratio of -20.29, a PEG ratio of 4.14 and a beta of 1.02. The stock has a fifty day moving average of $11.56 and a 200 day moving average of $12.21.

Analysts Set New Price Targets

MTRX has been the subject of a number of research reports. Northland Securities set a $24.00 price target on shares of Matrix Service in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Matrix Service in a report on Tuesday, April 21st. Finally, DA Davidson reissued a "buy" rating and issued a $17.00 target price on shares of Matrix Service in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $20.50.

Insider Activity at Matrix Service

In other Matrix Service news, VP Nancy E. Austin sold 4,193 shares of the company's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $11.29, for a total transaction of $47,338.97. Following the completion of the sale, the vice president owned 106,138 shares in the company, valued at approximately $1,198,298.02. The trade was a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Matrix Service

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in Matrix Service during the third quarter worth about $28,000. BNP Paribas Financial Markets increased its stake in shares of Matrix Service by 68.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company's stock valued at $34,000 after acquiring an additional 1,032 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Matrix Service by 133.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company's stock valued at $45,000 after acquiring an additional 1,893 shares during the period. Aquatic Capital Management LLC bought a new position in Matrix Service during the 3rd quarter worth approximately $67,000. Finally, Raymond James Financial Inc. bought a new position in Matrix Service during the 2nd quarter worth approximately $101,000. Institutional investors own 78.38% of the company's stock.

About Matrix Service

Matrix Service Company NASDAQ: MTRX is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company's service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.

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