Montrose Environmental Group (MEG) to Release Earnings on Tuesday

Montrose Environmental Group (NYSE:MEG) will be posting its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Montrose Environmental Group to post earnings of $0.05 per share for the quarter. Montrose Environmental Group has set its FY 2024 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. The company had revenue of $165.74 million during the quarter, compared to analyst estimates of $157.31 million. Montrose Environmental Group had a negative net margin of 4.94% and a negative return on equity of 5.64%. 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 Price Performance

Shares of MEG stock opened at $44.51 on Friday. The company has a market capitalization of $1.36 billion, a P/E ratio of -28.17 and a beta of 1.91. The company’s 50-day simple moving average is $40.22 and its two-hundred day simple moving average is $33.45. Montrose Environmental Group has a one year low of $21.96 and a one year high of $45.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.59 and a quick ratio of 1.59.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MEG. Stifel Nicolaus reissued a “buy” rating and issued a $51.00 price objective (up previously from $48.00) on shares of Montrose Environmental Group in a research note on Wednesday, April 3rd. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Montrose Environmental Group in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, March 1st.

Montrose Environmental Group Company Profile

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