Wall Street analysts forecast that Matrix Service Co (NASDAQ:MTRX) will report sales of $349.95 million for the current quarter, Zacks reports. Two analysts have made estimates for Matrix Service’s earnings, with estimates ranging from $345.00 million to $354.90 million. Matrix Service posted sales of $245.65 million during the same quarter last year, which would indicate a positive year over year growth rate of 42.5%. The company is scheduled to issue its next earnings report on Wednesday, May 8th.

According to Zacks, analysts expect that Matrix Service will report full-year sales of $1.39 billion for the current year, with estimates ranging from $1.38 billion to $1.39 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.50 billion, with estimates ranging from $1.48 billion to $1.52 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Matrix Service.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, February 6th. The oil and gas company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). The company had revenue of $340.60 million for the quarter, compared to analysts’ expectations of $317.23 million. Matrix Service had a negative net margin of 1.14% and a positive return on equity of 0.94%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Tuesday. BidaskClub cut shares of Matrix Service from a “buy” rating to a “hold” rating in a research report on Saturday, March 30th. Finally, DA Davidson assumed coverage on shares of Matrix Service in a research report on Wednesday, March 13th. They set a “neutral” rating and a $22.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $36.67.

Shares of NASDAQ:MTRX traded down $0.23 during trading hours on Friday, hitting $19.71. The company’s stock had a trading volume of 81,733 shares, compared to its average volume of 151,229. Matrix Service has a 52 week low of $13.75 and a 52 week high of $25.75. The firm has a market cap of $527.91 million, a P/E ratio of 131.40 and a beta of 1.09.

In other news, VP Rick J. Bennett sold 2,300 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $21.00, for a total transaction of $48,300.00. Following the sale, the vice president now owns 16,721 shares of the company’s stock, valued at $351,141. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alan R. Updyke sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $21.46, for a total transaction of $64,380.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,104 shares of company stock valued at $213,622. 1.90% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Macquarie Group Ltd. raised its holdings in Matrix Service by 167.9% during the fourth quarter. Macquarie Group Ltd. now owns 1,436 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 900 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Matrix Service by 2,694.8% during the fourth quarter. Advisors Asset Management Inc. now owns 1,621 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 1,563 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in shares of Matrix Service during the fourth quarter worth approximately $139,000. Pacer Advisors Inc. grew its position in shares of Matrix Service by 195.3% during the third quarter. Pacer Advisors Inc. now owns 5,936 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 3,926 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Matrix Service by 413.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,086 shares of the oil and gas company’s stock worth $181,000 after acquiring an additional 8,123 shares during the last quarter. 92.25% of the stock is currently owned by hedge funds and other institutional investors.

Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.

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