Matrix Service (NASDAQ:MTRX) Posts Quarterly Earnings Results, Misses Estimates By $0.30 EPS

Key Points

• Matrix Service reported quarterly earnings of ($0.28) EPS, missing the consensus estimate of $0.02 by ($0.30). This signifies a poor performance compared to market expectations.
• The company experienced a negative net margin of 3.04% and a negative return on equity of 14.08%, indicating challenges in profitability and financial efficiency.
• Shares of Matrix Service fell to $14.25 after the earnings announcement, reflecting a decrease of $0.46 on the trading day.

Matrix Service (NASDAQ:MTRX - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.30), Zacks reports. Matrix Service had a negative net margin of 3.04% and a negative return on equity of 14.08%.

Matrix Service Price Performance

Shares of Matrix Service stock traded down $0.46 on Tuesday, hitting $14.25. 350,751 shares of the company's stock traded hands, compared to its average volume of 193,778. The company has a fifty day moving average of $14.61 and a two-hundred day moving average of $13.03. The company has a market capitalization of $393.46 million, a price-to-earnings ratio of -17.59, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. Matrix Service has a one year low of $9.33 and a one year high of $16.10.

Institutional Trading of Matrix Service

A number of large investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in Matrix Service by 1.8% during the second quarter. AQR Capital Management LLC now owns 297,194 shares of the company's stock valued at $4,015,000 after buying an additional 5,390 shares during the period. Bank of America Corp DE raised its stake in Matrix Service by 36.2% during the 2nd quarter. Bank of America Corp DE now owns 236,987 shares of the company's stock valued at $3,202,000 after buying an additional 62,989 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Matrix Service by 288.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 212,921 shares of the company's stock valued at $2,877,000 after buying an additional 158,104 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Matrix Service by 53.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 175,736 shares of the company's stock worth $2,184,000 after purchasing an additional 61,246 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in Matrix Service by 4.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 116,198 shares of the company's stock worth $1,570,000 after buying an additional 5,401 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.

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