Mayville Engineering (NYSE:MEC) Issues Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• Mayville Engineering (NYSE:MEC) reported a quarterly earnings per share (EPS) of $0.07, missing the consensus estimate of $0.10 by $0.03.
• The company's net margin stands at 4.09% with a return on equity of 9.30%.
• Analysts have set new price targets for MEC, with DA Davidson initiating coverage at a $23.00 target and Citigroup raising its target to $21.00.

Mayville Engineering (NYSE:MEC - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.03), Zacks reports. The business had revenue of $132.33 million during the quarter, compared to analyst estimates of $137.98 million. Mayville Engineering had a net margin of 3.41% and a return on equity of 8.21%. Mayville Engineering updated its FY 2025 guidance to EPS.

Mayville Engineering Stock Down 3.1%

Shares of MEC traded down $0.45 during mid-day trading on Thursday, reaching $14.21. The company's stock had a trading volume of 300,573 shares, compared to its average volume of 110,422. The company's 50 day moving average is $15.87 and its 200 day moving average is $14.87. The stock has a market cap of $290.69 million, a PE ratio of 16.71 and a beta of 1.19. Mayville Engineering has a 12-month low of $11.72 and a 12-month high of $23.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.67 and a quick ratio of 0.91.

Hedge Funds Weigh In On Mayville Engineering

An institutional investor recently raised its position in Mayville Engineering stock. Jane Street Group LLC grew its stake in Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 158.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,194 shares of the company's stock after buying an additional 28,946 shares during the period. Jane Street Group LLC owned 0.23% of Mayville Engineering worth $634,000 at the end of the most recent reporting period. 45.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on MEC. DA Davidson began coverage on Mayville Engineering in a research report on Tuesday, June 17th. They issued a "buy" rating and a $23.00 price target on the stock. Citigroup reaffirmed a "buy" rating and issued a $21.00 target price (up previously from $17.00) on shares of Mayville Engineering in a report on Monday, July 14th.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.