Mayville Engineering (MEC) Stock Forecast, Price & News

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Mayville Engineering in the last year. There are currently 1 hold rating and 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" MEC shares.
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4 brokers have issued 12-month price objectives for Mayville Engineering's stock. Their MEC share price forecasts range from $14.00 to $20.00. On average, they anticipate the company's stock price to reach $17.33 in the next twelve months. This suggests a possible upside of 60.0% from the stock's current price.
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Mayville Engineering's stock was trading at $12.66 at the start of the year. Since then, MEC stock has decreased by 14.5% and is now trading at $10.83.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 7th 2023.
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Mayville Engineering Company, Inc. (NYSE:MEC) issued its earnings results on Tuesday, August, 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The company had revenue of $138.98 million for the quarter, compared to analysts' expectations of $143.28 million. Mayville Engineering had a trailing twelve-month return on equity of 8.02% and a net margin of 2.41%.

Mayville Engineering issued an update on its FY 2023 earnings guidance on Wednesday, September, 20th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $580.00 million-$610.00 million, compared to the consensus revenue estimate of $596.20 million.

Based on aggregate information from My MarketBeat watchlists, some companies that other Mayville Engineering investors own include Energy Transfer (ET), Aurora Cannabis (ACB), Alibaba Group (BABA), Walt Disney (DIS), NVIDIA (NVDA), OPKO Health (OPK), SSR Mining (SSRM), VBI Vaccines (VBIV), AbbVie (ABBV) and Aldeyra Therapeutics (ALDX).

(MEC) raised $126 million in an initial public offering on Thursday, May 9th 2019. The company issued 6,300,000 shares at a price of $19.00-$21.00 per share. Baird, Citigroup and Jefferies acted as the underwriters for the IPO and UBS Investment Bank and William Blair were co-managers.

Mayville Engineering trades on the New York Stock Exchange (NYSE) under the ticker symbol "MEC."

Shares of MEC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of MEC stock can currently be purchased for approximately $10.83.

Mayville Engineering (NYSE:MEC) has a market capitalization of $220.82 million and generates $539.39 million in revenue each year. The company earns $18.73 million in net income (profit) each year or $0.64 on an earnings per share basis.

The company employs 2,300 workers across the globe.

Mayville Engineering's mailing address is 715 SOUTH STREET, MAYVILLE WI, 53050. The official website for the company is www.mecinc.com. The company can be reached via phone at (920) 387-4500 or via email at nelwell@lincolnchurchilladvisors.com.