Montrose Environmental Group (NYSE:ONT) Announces Earnings Results

Montrose Environmental Group (NYSE:ONT) released its quarterly earnings results on Wednesday. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.08, Zacks reports. Montrose Environmental Group had a positive return on equity of 4.11% and a negative net margin of 1.44%.

Montrose Environmental Group Stock Performance

Shares of Montrose Environmental Group stock traded up $0.41 on Wednesday, hitting $16.10. 451,836 shares of the company’s stock were exchanged, compared to its average volume of 567,663. The stock has a market capitalization of $565.43 million, a PE ratio of -48.79, a PEG ratio of 1.62 and a beta of 1.80. Montrose Environmental Group has a 1 year low of $12.26 and a 1 year high of $30.00. The company has a 50-day simple moving average of $15.59 and a 200-day simple moving average of $19.30. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.00 and a current ratio of 2.00.

Analyst Ratings Changes

A number of analysts have recently weighed in on ONT shares. Bank of America cut shares of Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price objective for the company. in a research note on Thursday, August 6th. Weiss Ratings cut Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 22nd. Needham & Company LLC cut their price target on Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating for the company in a report on Friday, August 7th. Wall Street Zen lowered Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Finally, Barclays cut shares of Montrose Environmental Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $19.00 to $15.00 in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $17.50.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, government and other organizations address environmental compliance, sustainability and risk-management needs. Its services span the full project life cycle, from environmental assessment and permitting to monitoring, remediation and ongoing compliance support.

The company provides air quality and emissions testing, environmental laboratory services, consulting, engineering, water and waste management, environmental health and safety support, and remediation services.