Analysts Issue Forecasts for Mayville Engineering Company, Inc.’s FY2023 Earnings (NYSE:MEC)

Mayville Engineering Company, Inc. (NYSE:MEC) – Stock analysts at William Blair cut their FY2023 EPS estimates for Mayville Engineering in a research note issued to investors on Wednesday, November 1st. William Blair analyst L. De. Maria now forecasts that the company will earn $0.75 per share for the year, down from their previous forecast of $0.92. The consensus estimate for Mayville Engineering’s current full-year earnings is $0.81 per share.

Mayville Engineering Trading Up 1.4 %

MEC opened at $12.13 on Monday. The stock has a market capitalization of $247.33 million, a PE ratio of 31.10 and a beta of 0.84. The firm’s fifty day moving average price is $11.44 and its 200 day moving average price is $11.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.94 and a quick ratio of 2.18. Mayville Engineering has a 12-month low of $8.72 and a 12-month high of $16.66.

Institutional Investors Weigh In On Mayville Engineering

Several institutional investors and hedge funds have recently made changes to their positions in MEC. Macquarie Group Ltd. acquired a new stake in shares of Mayville Engineering during the 4th quarter valued at approximately $25,000. Tower Research Capital LLC TRC raised its position in shares of Mayville Engineering by 239.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,523 shares of the company’s stock valued at $30,000 after acquiring an additional 3,191 shares in the last quarter. Gladius Capital Management LP acquired a new stake in shares of Mayville Engineering during the 3rd quarter worth approximately $33,000. Lazard Asset Management LLC acquired a new stake in shares of Mayville Engineering during the 4th quarter worth approximately $41,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Mayville Engineering during the 2nd quarter worth approximately $46,000. 42.78% of the stock is owned by institutional investors and hedge funds.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, prototyping and tooling, fabrication, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers. The company serves heavy and medium duty commercial vehicle, construction and access equipment, powersports, agriculture, military, and other end markets.