Equities analysts expect Matrix Service Co (NASDAQ:MTRX) to post sales of $384.05 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Matrix Service’s earnings, with estimates ranging from $383.10 million to $385.00 million. Matrix Service posted sales of $293.09 million in the same quarter last year, which suggests a positive year-over-year growth rate of 31%. The company is scheduled to report its next quarterly earnings report on Monday, September 9th.

On average, analysts expect that Matrix Service will report full-year sales of $1.40 billion for the current financial year. For the next financial year, analysts expect that the business will post sales of $1.53 billion, with estimates ranging from $1.52 billion to $1.53 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Matrix Service.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07. The company had revenue of $358.89 million during the quarter, compared to the consensus estimate of $347.85 million. Matrix Service had a return on equity of 4.93% and a net margin of 0.04%. The firm’s revenue was up 46.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) EPS.

MTRX has been the subject of a number of recent research reports. Zacks Investment Research upgraded Matrix Service from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Saturday, February 2nd. ValuEngine downgraded Matrix Service from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. BidaskClub downgraded Matrix Service from a “buy” rating to a “hold” rating in a research note on Saturday, March 30th. Finally, DA Davidson initiated coverage on Matrix Service in a research note on Wednesday, March 13th. They set a “neutral” rating and a $22.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $36.67.

In related news, Director James Harry Miller sold 1,825 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $22.25, for a total value of $40,606.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kevin S. Cavanah sold 14,505 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $21.15, for a total value of $306,780.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,330 shares of company stock worth $411,767. 1.90% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Man Group plc grew its position in shares of Matrix Service by 15.4% during the 1st quarter. Man Group plc now owns 462,598 shares of the oil and gas company’s stock worth $9,058,000 after buying an additional 61,800 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Matrix Service by 75.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,840 shares of the oil and gas company’s stock worth $56,000 after buying an additional 1,219 shares in the last quarter. SEI Investments Co grew its position in shares of Matrix Service by 40.8% during the 1st quarter. SEI Investments Co now owns 4,130 shares of the oil and gas company’s stock worth $71,000 after buying an additional 1,196 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Matrix Service by 7.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,557 shares of the oil and gas company’s stock worth $10,976,000 after buying an additional 39,251 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. grew its position in shares of Matrix Service by 2.7% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 49,570 shares of the oil and gas company’s stock worth $971,000 after buying an additional 1,295 shares in the last quarter. 93.62% of the stock is currently owned by institutional investors.

Shares of NASDAQ:MTRX traded down $0.94 during mid-day trading on Thursday, reaching $18.10. 149,698 shares of the company traded hands, compared to its average volume of 142,294. The company has a market cap of $510.41 million, a PE ratio of 120.67 and a beta of 1.07. The company has a current ratio of 1.43, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. Matrix Service has a 52 week low of $15.43 and a 52 week high of $25.75.

About Matrix Service

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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