Montrose Environmental Group (MEG) Scheduled to Post Quarterly Earnings on Tuesday

Montrose Environmental Group (NYSE:MEG) is set to announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Montrose Environmental Group has set its FY 2024 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

Montrose Environmental Group (NYSE:MEG) last released its earnings results on Thursday, February 29th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. Montrose Environmental Group had a negative return on equity of 5.64% and a negative net margin of 4.94%. The business had revenue of $165.74 million for the quarter, compared to analyst estimates of $157.31 million. 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 Stock Up 0.5 %

NYSE:MEG opened at $44.51 on Monday. The stock has a fifty day simple moving average of $40.22 and a 200-day simple moving average of $33.53. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.50. Montrose Environmental Group has a twelve month low of $21.96 and a twelve month high of $45.96.

Wall Street Analyst Weigh In

Several research firms have issued reports on MEG. Stifel Nicolaus reissued a “buy” rating and issued a $51.00 price objective (up from $48.00) on shares of Montrose Environmental Group in a research report on Wednesday, April 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price target on shares of Montrose Environmental Group in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. raised their price objective on Montrose Environmental Group from $41.00 to $47.00 and gave the stock 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.