Mistras Group (NYSE:MG) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Mistras Group reported earnings of $0.19 per share for the quarter, exceeding analysts' expectations of $0.17, while revenue was $185.41 million, slightly below the estimated $186.43 million.
• The company's stock price declined by 1.6%, settling at $8.66, with a market capitalization of $271.32 million and a price-to-earnings ratio of 23.41.
• A hedge fund has increased its stake in Mistras Group by 7.3%, reflecting institutional investor confidence, as 74.92% of the stock is held by institutions.

Mistras Group (NYSE:MG - Get Free Report) announced its quarterly earnings data on Wednesday. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02, Zacks reports. The company had revenue of $185.41 million for the quarter, compared to analysts' expectations of $186.43 million. Mistras Group had a net margin of 1.64% and a return on equity of 9.55%.

Mistras Group Trading Up 1.7%

Shares of Mistras Group stock traded up $0.16 during trading on Tuesday, hitting $9.19. The stock had a trading volume of 3,345 shares, compared to its average volume of 139,992. The stock has a 50 day simple moving average of $7.98 and a 200 day simple moving average of $8.89. The company has a market capitalization of $287.77 million, a PE ratio of 24.76, a P/E/G ratio of 0.81 and a beta of 1.43. The company has a quick ratio of 1.38, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. Mistras Group has a 1 year low of $7.06 and a 1 year high of $12.44.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mistras Group stock. Dynamic Technology Lab Private Ltd bought a new position in Mistras Group Inc (NYSE:MG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,219 shares of the technology company's stock, valued at approximately $256,000. Dynamic Technology Lab Private Ltd owned approximately 0.08% of Mistras Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 74.92% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Mistras Group from a "hold" rating to a "buy" rating in a research note on Saturday.

About Mistras Group

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.