Montrose Environmental Group (NYSE:MEG – Get Rating) will post its quarterly earnings results after the market closes on Monday, May 9th. Analysts expect the company to announce earnings of ($0.03) per share for the quarter. Montrose Environmental Group has set its FY 2022 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.
Montrose Environmental Group (NYSE:MEG – Get Rating) last announced its earnings results on Monday, February 28th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.21). Montrose Environmental Group had a negative net margin of 4.64% and a positive return on equity of 4.25%. The business had revenue of $143.79 million during the quarter, compared to analysts’ expectations of $122.23 million. On average, analysts expect Montrose Environmental Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.
NYSE MEG opened at $45.37 on Monday. The business’s 50-day moving average is $49.08. Montrose Environmental Group has a 52-week low of $38.35 and a 52-week high of $80.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.99 and a current ratio of 1.99.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Montrose Environmental Group by 25.4% during the 4th quarter. BlackRock Inc. now owns 2,045,847 shares of the company’s stock worth $144,253,000 after buying an additional 413,967 shares during the period. Morgan Stanley lifted its position in shares of Montrose Environmental Group by 1,866.3% during the 2nd quarter. Morgan Stanley now owns 162,613 shares of the company’s stock worth $8,726,000 after purchasing an additional 154,343 shares during the last quarter. State Street Corp boosted its stake in Montrose Environmental Group by 15.4% during the 4th quarter. State Street Corp now owns 472,605 shares of the company’s stock valued at $33,323,000 after purchasing an additional 62,940 shares during the period. Bank of New York Mellon Corp grew its holdings in Montrose Environmental Group by 73.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 105,850 shares of the company’s stock valued at $6,535,000 after buying an additional 44,862 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Montrose Environmental Group by 9.3% during the fourth quarter. Geode Capital Management LLC now owns 426,863 shares of the company’s stock worth $30,098,000 after buying an additional 36,317 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.
MEG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. began coverage on shares of Montrose Environmental Group in a research report on Friday, March 18th. They set a “neutral” rating on the stock. National Bank Financial boosted their price target on Montrose Environmental Group from C$15.00 to C$18.50 in a report on Thursday, January 6th. Zacks Investment Research cut Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a report on Saturday, March 5th. Finally, Needham & Company LLC dropped their price target on shares of Montrose Environmental Group from $84.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Montrose Environmental Group has a consensus rating of “Hold” and a consensus target price of $52.79.
Montrose Environmental Group Company Profile (Get Rating)
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.
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