Brokerages Expect Matrix Service (NASDAQ:MTRX) Will Announce Earnings of -$0.42 Per Share

Analysts forecast that Matrix Service (NASDAQ:MTRXGet Rating) will report ($0.42) earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have issued estimates for Matrix Service’s earnings. Matrix Service posted earnings of ($0.40) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 5%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Matrix Service will report full year earnings of ($1.90) per share for the current year. For the next fiscal year, analysts forecast that the firm will post earnings of ($0.03) per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Matrix Service.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut Matrix Service from a “hold” rating to a “sell” rating in a research note on Saturday. StockNews.com assumed coverage on Matrix Service in a research note on Thursday, March 31st. They set a “hold” rating on the stock.

Shares of MTRX stock opened at $5.01 on Friday. The stock’s 50-day moving average price is $7.42 and its 200-day moving average price is $7.81. Matrix Service has a 12-month low of $4.80 and a 12-month high of $12.40.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Matrix Service by 48.7% during the second quarter. Royal Bank of Canada now owns 3,284 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 1,075 shares during the last quarter. Alpha Paradigm Partners LLC bought a new position in shares of Matrix Service during the fourth quarter valued at approximately $47,000. UBS Group AG grew its stake in shares of Matrix Service by 98.0% during the third quarter. UBS Group AG now owns 5,415 shares of the oil and gas company’s stock valued at $57,000 after buying an additional 2,680 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new position in shares of Matrix Service during the third quarter valued at approximately $75,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Matrix Service during the fourth quarter valued at approximately $87,000. 88.69% of the stock is currently owned by hedge funds and other institutional investors.

About Matrix Service (Get Rating)

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, mining, and minerals markets in the United States, Canada, South Korea, Australia, and internationally. It operates through three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

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