Matrix Service Company (NASDAQ:MTRX) was upgraded by equities researchers at TheStreet from a “d+” rating to a “c-” rating in a research note issued to investors on Monday.
Several other equities analysts have also recently weighed in on MTRX. BidaskClub upgraded Matrix Service from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. ValuEngine lowered Matrix Service from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Zacks Investment Research lowered Matrix Service from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Finally, KeyCorp reiterated a “hold” rating on shares of Matrix Service in a report on Monday, August 28th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Matrix Service has a consensus rating of “Hold”.
Matrix Service (NASDAQ MTRX) opened at 14.15 on Monday. The company’s market capitalization is $378.12 million. Matrix Service has a 52 week low of $7.80 and a 52 week high of $23.45. The firm has a 50-day moving average of $13.57 and a 200-day moving average of $11.65.
Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Wednesday, September 6th. The oil and gas company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $291.84 million during the quarter, compared to the consensus estimate of $281.82 million. Matrix Service had a negative return on equity of 0.06% and a negative net margin of 0.02%. Matrix Service’s revenue was down 18.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. Analysts anticipate that Matrix Service will post $0.60 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Matrix Service by 9.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,248,294 shares of the oil and gas company’s stock valued at $21,022,000 after purchasing an additional 195,754 shares during the period. Vanguard Group Inc. grew its position in Matrix Service by 6.1% in the second quarter. Vanguard Group Inc. now owns 1,492,327 shares of the oil and gas company’s stock valued at $13,953,000 after acquiring an additional 86,259 shares during the period. Smith Graham & Co. Investment Advisors LP grew its position in Matrix Service by 95.5% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 904,271 shares of the oil and gas company’s stock valued at $8,455,000 after acquiring an additional 441,659 shares during the period. State Street Corp grew its position in Matrix Service by 12.2% in the first quarter. State Street Corp now owns 838,988 shares of the oil and gas company’s stock valued at $13,842,000 after acquiring an additional 90,999 shares during the period. Finally, Boston Partners grew its position in Matrix Service by 32.0% in the second quarter. Boston Partners now owns 740,510 shares of the oil and gas company’s stock valued at $6,923,000 after acquiring an additional 179,480 shares during the period. Institutional investors and hedge funds own 85.17% of the company’s stock.
About Matrix Service
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.
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