Montrose Environmental Group, Inc. operates as an environmental services company in the United States. 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. Its technical advisory and consulting services include regulatory compliance support and planning, environmental, and ecosystem and toxicological assessments and support during responses to environmental disruptions. The Measurement and Analysis segment tests and analyzes air, water, and soil to determine concentrations of contaminants, as well as the toxicological impact of contaminants on flora, fauna, and human health. Its services include source and ambient air testing and monitoring, leak detection, and advanced analytical laboratory services, such as air, storm water, wastewater, and drinking water analysis. The Remediation and Reuse segment provides engineering, design, implementation, and operations and maintenance services primarily to treat contaminated water, remove contaminants from soil, or create biogas from waste. It serves technology, media, chemical, energy, power and utility, industrial and manufacturing, financial, and engineering industries, as well as local, state, provincial, and federal government entities. The company was founded in 2012 and is headquartered in North Little Rock, Arkansas.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on MEG shares. JPMorgan Chase & Co. raised Montrose Environmental Group from a "neutral" rating to an "overweight" rating and set a $47.00 target price on the stock in a research report on Wednesday, May 11th. TheStreet cut Montrose Environmental Group from a "c-" rating to a "d" rating in a research report on Friday, June 24th. Finally, Morgan Stanley dropped their target price on Montrose Environmental Group from $56.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Montrose Environmental Group has a consensus rating of "Moderate Buy" and an average price target of $48.21.
Montrose Environmental Group Stock Performance
Shares of MEG Stock traded up $0.02 during trading hours on Friday, reaching $41.64. 77,663 shares of the company traded hands, compared to its average volume of 118,318. The firm has a 50-day moving average price of $36.15 and a 200 day moving average price of $42.83. The company has a market cap of $1.24 billion, a P/E ratio of -30.62 and a beta of 1.53. Montrose Environmental Group has a 12-month low of $28.36 and a 12-month high of $80.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.40.
Montrose Environmental Group (NYSE:MEG - Get Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.36). The firm had revenue of $134.68 million during the quarter, compared to the consensus estimate of $133.45 million. Montrose Environmental Group had a negative return on equity of 1.47% and a negative net margin of 3.89%. As a group, sell-side analysts predict that Montrose Environmental Group will post -0.47 earnings per share for the current fiscal year.
Insider Activity at Montrose Environmental Group
In other Montrose Environmental Group news, Director James K. Price acquired 11,807 shares of the company's stock in a transaction that occurred on Tuesday, May 17th. The stock was bought at an average price of $42.35 per share, for a total transaction of $500,026.45. Following the acquisition, the director now directly owns 1,031,370 shares in the company, valued at $43,678,519.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Montrose Environmental Group news, Director James K. Price acquired 11,807 shares of the company's stock in a transaction that occurred on Tuesday, May 17th. The stock was bought at an average price of $42.35 per share, for a total transaction of $500,026.45. Following the acquisition, the director now directly owns 1,031,370 shares in the company, valued at $43,678,519.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James K. Price acquired 13,340 shares of the company's stock in a transaction that occurred on Thursday, May 12th. The shares were acquired at an average price of $37.47 per share, with a total value of $499,849.80. Following the acquisition, the director now owns 1,019,563 shares in the company, valued at $38,203,025.61. The disclosure for this purchase can be found here. 11.00% of the stock is owned by company insiders.
