Capital One Financial Equities Analysts Lower Earnings Estimates for Montrose Environmental Group, Inc. (NYSE:MEG)

Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) - Capital One Financial decreased their Q4 2024 earnings per share estimates for shares of Montrose Environmental Group in a research note issued to investors on Wednesday, May 15th. Capital One Financial analyst W. Suki now expects that the company will earn $0.04 per share for the quarter, down from their prior estimate of $0.07. The consensus estimate for Montrose Environmental Group's current full-year earnings is ($0.18) per share.

Montrose Environmental Group (NYSE:MEG - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.08. The company had revenue of $165.74 million during the quarter, compared to analysts' expectations of $157.31 million. Montrose Environmental Group had a negative return on equity of 1.78% and a negative net margin of 4.55%.

A number of other equities analysts have also recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 price target on shares of Montrose Environmental Group in a report on Thursday, May 9th. JPMorgan Chase & Co. boosted their price objective on Montrose Environmental Group from $41.00 to $47.00 and gave the stock an "overweight" rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $51.00 price objective (up from $48.00) on shares of Montrose Environmental Group in a research note on Wednesday, April 3rd.

Montrose Environmental Group Price Performance

NYSE MEG traded up $0.04 during trading hours on Thursday, reaching $47.50. The company's stock had a trading volume of 234,387 shares, compared to its average volume of 261,358. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -32.07 and a beta of 1.91. Montrose Environmental Group has a 1-year low of $21.96 and a 1-year high of $49.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.63 and a quick ratio of 1.63. The company's 50-day moving average is $41.73 and its two-hundred day moving average is $34.62.

Insider Activity

In other news, CEO Vijay Manthripragada sold 12,500 shares of the company's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $46.51, for a total value of $581,375.00. Following the completion of the sale, the chief executive officer now directly owns 316,637 shares in the company, valued at $14,726,786.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MEG. M&T Bank Corp purchased a new position in Montrose Environmental Group during the third quarter worth about $598,000. Versor Investments LP acquired a new stake in shares of Montrose Environmental Group during the third quarter worth about $214,000. Jump Financial LLC acquired a new stake in shares of Montrose Environmental Group during the third quarter worth about $280,000. Quantbot Technologies LP acquired a new stake in shares of Montrose Environmental Group during the third quarter worth about $109,000. Finally, Swiss National Bank lifted its position in shares of Montrose Environmental Group by 1.8% during the third quarter. Swiss National Bank now owns 62,900 shares of the company's stock worth $1,840,000 after purchasing an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 87.87% of the company's stock.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc operates as an environmental services company in the United States, Canada, and internationally. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consulting and environmental audits and permits for current operations; facility upgrades; new projects; decommissioning projects; and development projects.