Montrose Environmental Group Inc. (NYSE:MEG)’s traded shares stood at 0.34 million during the last session. At the close of trading, the stock’s price was $61.21, to imply a decrease of -0.70% or -$0.43 in intraday trading. The MEG share’s 52-week high remains $68.65, putting it -12.15% down since that peak but still an impressive 64.09% since price per share fell to its 52-week low of $21.98. The company has a valuation of $1.56B, with an average of 0.51 million shares in intraday trading volume over the past 10 days and average of 213.38K shares over the past 3 months.
Analysts have given a consensus recommendation of a Buy for Montrose Environmental Group Inc. (MEG), translating to a mean rating of 1.90. Of 5 analyst(s) looking at the stock, 0 analyst(s) give MEG a Sell rating. 1 of those analysts rate the stock as Overweight while 0 advise Hold as 4 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.04.
Montrose Environmental Group Inc. (NYSE:MEG) trade information
After registering a -0.70% downside in the last session, Montrose Environmental Group Inc. (MEG) has traded red over the past five days. The stock hit a weekly high of 63.63 this Friday, 10/08/21, dropping -0.70% in its intraday price action. The 5-day price performance for the stock is -3.42%, and 8.01% over 30 days. With these gigs, the year-to-date price performance is 97.71%. Short interest in Montrose Environmental Group Inc. (NYSE:MEG) saw shorts transact 0.57 million shares and set a 4.59 days time to cover.
Analysts on Wall Street suggest a consensus price target of $64.25, implying an increase of 4.73% to the stock’s current value. The extremes give us $62.00 and $68.00 for target low and target high price respectively. As such, MEG has been trading -11.09% off suggested target high and -1.29% from its likely low.
Montrose Environmental Group Inc. (MEG) estimates and forecasts
Looking at statistics comparing Montrose Environmental Group Inc. share performance against respective industry, we note that the company has outperformed competitors. Montrose Environmental Group Inc. (MEG) shares are 15.75% up over the last 6 months, with its year-to-date growth rate higher than industry average at 97.23% against 15.60%. Revenue is forecast to grow 101.40% this quarter before jumping 113.60% for the next one. The rating firms project that company’s revenue will grow 51.20% compared to the previous financial year.
Revenue forecast for the current quarter as set by 5 analysts is $119.96 million. Meanwhile, for the quarter ending Dec 2021, a total of 5 analyst(s) estimate revenue growth to $105.3 million.Earnings reports from the last fiscal year show that sales brought in $84.7 million and $108.74 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 41.60% before dropping -3.20% in the following quarter.
Montrose Environmental Group Inc. has its next earnings report out in November. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Montrose Environmental Group Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Montrose Environmental Group Inc. (NYSE:MEG)’s Major holders
Montrose Environmental Group Inc. insiders hold 11.63% of total outstanding shares, with institutional holders owning 73.62% of the shares at 83.31% float percentage. In total, 73.62% institutions holds shares in the company, led by Blackrock Inc. As of Mar 30, 2021, the company held over 1.46 million shares (or 5.61% of shares), all amounting to roughly $73.39 million.
The next major institution holding the largest number of shares is Fred Alger Management, LLC with 1.28 million shares, or about 4.90% of shares outstanding. As of the market price on Mar 30, 2021, these shares were worth $64.04 million.
We also have Smallcap World Fund and Alger Weatherbie Specialized Growth Fund as the top two Mutual Funds with the largest holdings of the Montrose Environmental Group Inc. (MEG) shares. Going by data provided on Mar 30, 2021, Smallcap World Fund holds roughly 0.79 million shares. This is just over 3.03% of the total shares, with a market valuation of $39.6 million. Data from the same date shows that the other fund manager holds a little less at 0.69 million, or 2.64% of the shares, all valued at about 37.34 million.