In the last trading session, 2.37 million Montrose Environmental Group Inc (NYSE:MEG) shares changed hands as the company’s beta touched 1.88. With the company’s per share price at $26.30 changed hands at -$0.99 or -3.63% during last session, the market valuation stood at $900.25M. MEG’s last price was a discount, traded about -90.0% off its 52-week high of $49.97. The share price had its 52-week low at $21.96, which suggests the last value was 16.5% up since then. When we look at Montrose Environmental Group Inc’s average trading volume, we note the 10-day average is 0.75 million shares, with the 3-month average coming to 480.22K.
Analysts gave the Montrose Environmental Group Inc (MEG) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.14. If we narrow down to specifics, the data shows that 0 out of 8 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended MEG as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Montrose Environmental Group Inc’s EPS for the current quarter is expected to be -0.08.
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Montrose Environmental Group Inc (NYSE:MEG) trade information
Instantly MEG was in red as seen at the end of in last trading. With action -8.59%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -18.15%, with the 5-day performance at -8.59% in the red. However, in the 30-day time frame, Montrose Environmental Group Inc (NYSE:MEG) is -19.15% down. Looking at the short shares, we see there were 2.38 million shares sold at short interest cover period of 6.66 days.
The consensus price target for the stock as assigned by Wall Street analysts is 52.5, meaning bulls need an upside of 49.9% from its current market value. According to analyst projections, MEG’s forecast low is 51 with 54 as the target high. To hit the forecast high, the stock’s price needs a -105.32% plunge from its current level, while the stock would need to soar -93.92% for it to hit the projected low.
Montrose Environmental Group Inc (MEG) estimates and forecasts
Data shows that the Montrose Environmental Group Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -33.25% over the past 6 months, a 5.61% in annual growth rate that is considerably lower than the industry average of 5.70%. Year-over-year growth is forecast to reach 14.20% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of 185.47M. 6 analysts are of the opinion that Montrose Environmental Group Inc’s revenue for the current quarter will be 195.59M. The company’s revenue for the corresponding quarters a year ago was 167.48M and 165.74M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 10.70%. The estimates for the next quarter sales put growth at 18.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -10.88%. The 2024 estimates are for Montrose Environmental Group Inc earnings to increase by 47.77%.
MEG Dividends
Montrose Environmental Group Inc is expected to release its next quarterly earnings report in November.
Montrose Environmental Group Inc (NYSE:MEG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 6.90% of Montrose Environmental Group Inc shares while 100.20% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 107.62%. There are 100.20% institutions holding the Montrose Environmental Group Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 8.284% of the shares, roughly 2.52 million MEG shares worth $112.15 million.
UBS ASSET MANAGEMENT AMERICAS INC holds the second largest percentage of outstanding shares, with 7.7828% or 2.36 million shares worth $105.36 million as of 2024-06-30.
