Montrose Environmental Group (MEG) Set to Announce Earnings on Tuesday

Montrose Environmental Group (NYSE:MEG) will release its earnings data after the market closes on Tuesday, November 7th. Analysts expect Montrose Environmental Group to post earnings of $0.18 per share for the quarter. Montrose Environmental Group has set its FY 2023 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.09). Montrose Environmental Group had a negative net margin of 6.86% and a negative return on equity of 12.27%. The firm had revenue of $159.10 million for the quarter, compared to analyst estimates of $144.13 million. On average, analysts expect Montrose Environmental Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Montrose Environmental Group Stock Performance

Shares of MEG opened at $25.39 on Friday. Montrose Environmental Group has a 1 year low of $21.96 and a 1 year high of $55.00. The company has a market cap of $765.76 million, a price-to-earnings ratio of -13.80 and a beta of 1.79. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a fifty day moving average of $29.74 and a 200-day moving average of $35.44.

Analyst Ratings Changes

Several brokerages have recently issued reports on MEG. Royal Bank of Canada raised shares of Montrose Environmental Group from a “sector perform” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Tuesday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Montrose Environmental Group in a report on Tuesday, September 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Montrose Environmental Group from $40.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Montrose Environmental Group currently has a consensus rating of “Moderate Buy” and an average target price of $43.50.

Insider Buying and Selling

In related news, Director De Castro Jose Migue Fernandez acquired 10,000 shares of Montrose Environmental Group stock in a transaction that occurred on Tuesday, September 12th. The stock was acquired at an average price of $32.94 per share, with a total value of $329,400.00. Following the completion of the acquisition, the director now directly owns 139,110 shares of the company’s stock, valued at approximately $4,582,283.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. CI Private Wealth LLC bought a new stake in Montrose Environmental Group in the fourth quarter worth about $214,000. Price T Rowe Associates Inc. MD bought a new stake in Montrose Environmental Group in the fourth quarter worth about $213,000. Natixis bought a new stake in Montrose Environmental Group in the fourth quarter worth about $180,000. Rockefeller Capital Management L.P. raised its holdings in Montrose Environmental Group by 167.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,648 shares of the company’s stock worth $161,000 after buying an additional 2,286 shares during the period. Finally, Royal Bank of Canada raised its holdings in Montrose Environmental Group by 33.4% during the 2nd quarter. Royal Bank of Canada now owns 3,619 shares of the company’s stock worth $152,000 after buying an additional 906 shares during the period. 89.88% of the stock is currently owned by institutional investors.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc operates as an environmental services company in the United States and internationally. 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.