Mistras Group (NYSE:MG) Releases Earnings Results, Beats Estimates By $0.20 EPS

Mistras Group (NYSE:MG) issued its quarterly earnings data on Tuesday. The technology company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.20, Zacks reports. Mistras Group had a net margin of 1.64% and a return on equity of 9.37%. The firm had revenue of $195.55 million for the quarter, compared to the consensus estimate of $189.94 million.

Mistras Group Stock Performance

Shares of NYSE MG opened at $9.61 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.54 and a debt-to-equity ratio of 0.89. Mistras Group has a 12 month low of $7.06 and a 12 month high of $10.95. The company has a 50 day simple moving average of $9.68 and a two-hundred day simple moving average of $8.75. The stock has a market cap of $303.08 million, a price-to-earnings ratio of 25.97, a PEG ratio of 0.90 and a beta of 1.26.

Insider Activity

In other news, EVP Eileen Mary Coggins bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was purchased at an average cost of $9.55 per share, for a total transaction of $143,250.00. Following the purchase, the executive vice president directly owned 15,000 shares in the company, valued at approximately $143,250. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mistras Group

Several large investors have recently made changes to their positions in MG. Raymond James Financial Inc. increased its holdings in Mistras Group by 18.2% in the 2nd quarter. Raymond James Financial Inc. now owns 14,173 shares of the technology company’s stock worth $114,000 after acquiring an additional 2,183 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in Mistras Group in the 2nd quarter worth $136,000. Bank of America Corp DE increased its holdings in Mistras Group by 49.1% in the 2nd quarter. Bank of America Corp DE now owns 22,644 shares of the technology company’s stock worth $181,000 after acquiring an additional 7,452 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Mistras Group in the 1st quarter worth $256,000. Finally, American Century Companies Inc. increased its holdings in Mistras Group by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 47,498 shares of the technology company’s stock worth $380,000 after acquiring an additional 9,312 shares in the last quarter. 74.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MG. Weiss Ratings reissued a “hold (c)” rating on shares of Mistras Group in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Mistras Group from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Mistras Group has a consensus rating of “Hold”.

Mistras Group Company Profile

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.