Mistras Group Inc. (MG) Announces Quarterly Earnings Results
Mistras Group Inc. (NYSE:MG) posted its quarterly earnings results on Thursday. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $168.40 million for the quarter. Mistras Group had a net margin of 3.44% and a return on equity of 10.33%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. Mistras Group updated its FY17 guidance to $0.88-0.97 EPS.
Shares of Mistras Group (NYSE:MG) opened at 20.30 on Monday. Mistras Group has a 1-year low of $17.84 and a 1-year high of $26.47. The stock has a 50 day moving average of $23.71 and a 200-day moving average of $24.43. The stock has a market capitalization of $588.19 million, a P/E ratio of 25.06 and a beta of 1.20.
In related news, insider Dennis Bertolotti sold 21,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $24.97, for a total value of $524,370.00. Following the sale, the insider now directly owns 101,062 shares of the company’s stock, valued at approximately $2,523,518.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 45.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of MG. Rational Advisors LLC purchased a new stake in Mistras Group during the second quarter valued at about $128,000. PNC Financial Services Group Inc. boosted its stake in Mistras Group by 97.0% in the second quarter. PNC Financial Services Group Inc. now owns 6,425 shares of the company’s stock valued at $153,000 after buying an additional 3,164 shares in the last quarter. BlackRock Group LTD boosted its stake in Mistras Group by 54.5% in the second quarter. BlackRock Group LTD now owns 6,903 shares of the company’s stock valued at $165,000 after buying an additional 2,434 shares in the last quarter. Globeflex Capital L P purchased a new stake in Mistras Group during the second quarter valued at about $186,000. Finally, BlackRock Advisors LLC boosted its stake in Mistras Group by 4.2% in the second quarter. BlackRock Advisors LLC now owns 8,381 shares of the company’s stock valued at $200,000 after buying an additional 335 shares in the last quarter. 56.35% of the stock is currently owned by hedge funds and other institutional investors.
MG has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Mistras Group from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Friday, July 22nd. TD Securities reduced their target price on shares of Mistras Group from $51.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, July 11th. CIBC lifted their target price on shares of Mistras Group from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 9th. Finally, Robert W. Baird raised shares of Mistras Group from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $27.00 to $28.00 in a research note on Friday, August 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $41.75.
About Mistras Group
Mistras Group, Inc is a provider of asset protection solutions. The Company offers one source for asset protection solutions to its customers. The Company has three segments: Services, Products and Systems, and International. The Company’s Services segment provides asset protection solutions consisting primarily of non-destructive testing and inspection, and engineering services that are used to evaluate the structural integrity and reliability of energy, industrial and public infrastructure.
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