Montrose Environmental Group (NYSE:ONT) Releases Earnings Results, Beats Expectations By $0.08 EPS

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

Montrose Environmental Group Price Performance

Shares of NYSE ONT traded up $0.41 during trading hours on Wednesday, reaching $16.10. 451,836 shares of the stock traded hands, compared to its average volume of 567,663. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.84. The company’s 50-day simple moving average is $15.59 and its two-hundred day simple moving average is $19.30. The company has a market capitalization of $565.43 million, a P/E ratio of -48.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.80. Montrose Environmental Group has a 52-week low of $12.26 and a 52-week high of $30.00.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ONT. Barclays lowered shares of Montrose Environmental Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $19.00 to $15.00 in a research report on Friday, August 7th. JPMorgan Chase & Co. lowered their price target on Montrose Environmental Group from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Wall Street Zen downgraded shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Weiss Ratings cut Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 22nd. Finally, Needham & Company LLC decreased their price objective on shares of Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average 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.