Montrose Environmental Group (MEG) to Release Quarterly Earnings on Tuesday

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

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.08. The firm had revenue of $165.74 million during the quarter, compared to analysts’ expectations of $157.31 million. Montrose Environmental Group had a negative net margin of 4.94% and a negative return on equity of 5.64%. 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 %

Shares of MEG opened at $44.51 on Friday. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -28.17 and a beta of 1.91. Montrose Environmental Group has a 52 week low of $21.96 and a 52 week high of $45.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.59 and a current ratio of 1.59. The business’s fifty day moving average price is $40.22 and its two-hundred day moving average price is $33.45.

Analyst Ratings Changes

A number of research firms recently commented on MEG. Stifel Nicolaus reiterated a “buy” rating and issued a $51.00 price objective (up previously from $48.00) on shares of Montrose Environmental Group in a 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 research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted their target price on Montrose Environmental Group from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, March 1st.

About Montrose Environmental Group

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.