Zacks Research Comments on Mercury Systems, Inc.'s Q3 2024 Earnings (NASDAQ:MRCY)

Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) - Investment analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for shares of Mercury Systems in a report issued on Tuesday, April 9th. Zacks Research analyst R. Department now expects that the technology company will earn ($0.16) per share for the quarter, down from their prior forecast of ($0.04). The consensus estimate for Mercury Systems' current full-year earnings is ($1.36) per share. Zacks Research also issued estimates for Mercury Systems' Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($1.06) EPS, Q1 2025 earnings at ($0.23) EPS, Q2 2025 earnings at ($0.28) EPS, Q3 2025 earnings at ($0.11) EPS, FY2025 earnings at ($0.50) EPS, Q1 2026 earnings at $0.02 EPS, Q2 2026 earnings at ($0.02) EPS and FY2026 earnings at $0.57 EPS.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its earnings results on Tuesday, February 6th. The technology company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.48). The business had revenue of $197.46 million for the quarter, compared to the consensus estimate of $215.41 million. Mercury Systems had a negative return on equity of 2.62% and a negative net margin of 9.54%.

A number of other equities analysts have also recently commented on MRCY. The Goldman Sachs Group lowered their price target on Mercury Systems from $24.00 to $21.00 and set a "sell" rating for the company in a report on Thursday, February 8th. Jefferies Financial Group lowered Mercury Systems from a "hold" rating to an "underperform" rating and reduced their price objective for the company from $35.00 to $30.00 in a report on Wednesday, January 3rd. Truist Financial lowered Mercury Systems from a "buy" rating to a "hold" rating and cut their price target for the stock from $48.00 to $28.00 in a report on Wednesday, February 7th. Finally, Royal Bank of Canada dropped their price objective on Mercury Systems from $35.00 to $30.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $29.88.

Mercury Systems Stock Up 0.8 %

Shares of NASDAQ:MRCY traded up $0.24 during trading on Thursday, hitting $28.85. 260,488 shares of the company were exchanged, compared to its average volume of 555,887. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -19.36 and a beta of 0.70. Mercury Systems has a fifty-two week low of $25.31 and a fifty-two week high of $52.95. The firm has a fifty day moving average price of $29.08 and a two-hundred day moving average price of $33.00. The company has a current ratio of 4.36, a quick ratio of 2.79 and a debt-to-equity ratio of 0.41.

Institutional Trading of Mercury Systems

Several institutional investors and hedge funds have recently modified their holdings of MRCY. JPMorgan Chase & Co. raised its stake in Mercury Systems by 10.7% in the first quarter. JPMorgan Chase & Co. now owns 85,186 shares of the technology company's stock worth $5,490,000 after buying an additional 8,264 shares in the last quarter. US Bancorp DE raised its position in shares of Mercury Systems by 32.5% in the first quarter. US Bancorp DE now owns 7,765 shares of the technology company's stock worth $500,000 after acquiring an additional 1,904 shares during the period. Bank of Montreal Can raised its position in shares of Mercury Systems by 79.7% during the 1st quarter. Bank of Montreal Can now owns 13,937 shares of the technology company's stock worth $919,000 after purchasing an additional 6,182 shares during the last quarter. MetLife Investment Management LLC grew its stake in Mercury Systems by 33.6% during the 1st quarter. MetLife Investment Management LLC now owns 36,688 shares of the technology company's stock valued at $2,365,000 after acquiring an additional 9,237 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Mercury Systems by 14.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,343 shares of the technology company's stock valued at $1,504,000 after buying an additional 3,032 shares during the period. Institutional investors own 95.99% of the company's stock.

Insiders Place Their Bets

In other news, Director Barry R. Nearhos acquired 3,500 shares of the business's stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $27.15 per share, for a total transaction of $95,025.00. Following the completion of the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $95,025. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, Director Barry R. Nearhos purchased 3,500 shares of the company's stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $27.15 per share, for a total transaction of $95,025.00. Following the completion of the transaction, the director now owns 3,500 shares in the company, valued at approximately $95,025. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephanie Georges sold 1,409 shares of Mercury Systems stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $29.57, for a total value of $41,664.13. Following the completion of the transaction, the executive vice president now owns 38,319 shares of the company's stock, valued at approximately $1,133,092.83. The disclosure for this sale can be found here. In the last quarter, insiders acquired 14,133 shares of company stock worth $398,311 and sold 3,510 shares worth $103,685. 1.80% of the stock is currently owned by company insiders.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.