Montrose Environmental Group Inc (NYSE:MEG)’s traded shares stood at 0.82 million during the last session, with the company’s beta value hitting 1.90. At the close of trading, the stock’s price was $22.55, to imply an increase of 4.25% or $0.92 in intraday trading. The MEG share’s 52-week high remains $49.97, putting it -121.6% down since that peak but still an impressive 6.12% since price per share fell to its 52-week low of $21.17. The company has a valuation of $771.89M, with an average of 0.99 million shares in intraday trading volume over the past 10 days and average of 542.83K shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Montrose Environmental Group Inc (MEG), translating to a mean rating of 1.14. Of 8 analyst(s) looking at the stock, 0 analyst(s) give MEG a Sell rating. 0 of those analysts rate the stock as Overweight while 4 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 -0.08.
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Montrose Environmental Group Inc (NYSE:MEG) trade information
After registering a 4.25% upside in the last session, Montrose Environmental Group Inc (MEG) has traded red over the past five days. The 5-day price performance for the stock is -17.37%, and -26.81% over 30 days. With these gigs, the year-to-date price performance is -29.82%. Short interest in Montrose Environmental Group Inc (NYSE:MEG) saw shorts transact 2.38 million shares and set a 6.66 days time to cover.
The extremes give us $51 and $54 for target low and target high price respectively. As such, MEG has been trading -139.47% off suggested target high and -126.16% 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 underperformed competitors. Montrose Environmental Group Inc (MEG) shares are -49.17% down over the last 6 months, with its year-to-date growth rate lower than industry average at 5.61% against 5.70%. Revenue is forecast to grow 79.50% this quarter before jumping 66.70% for the next one. The rating firms project that company’s revenue will grow 14.20% compared to the previous financial year.
Revenue forecast for the current quarter as set by 6 analysts is 185.47M. Meanwhile, for the current quarter, a total of 6 analyst(s) estimate revenue growth to 195.59M.Earnings reports from the last fiscal year show that sales brought in 167.48M and 165.74M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 10.70% before jumping 18.00% in the following quarter.
MEG Dividends
Montrose Environmental Group Inc has its next earnings report out on 2024-Nov-05. 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 (NYSE:MEG)’s Major holders
Montrose Environmental Group Inc insiders hold 6.90% of total outstanding shares, with institutional holders owning 100.44% of the shares at 107.88% float percentage. In total, 100.44% institutions holds shares in the company, led by BLACKROCK INC.. As of 2024-06-30, the company held over 2.52 million shares (or 8.284% of shares), all amounting to roughly $112.15 million.
The next major institution holding the largest number of shares is UBS ASSET MANAGEMENT AMERICAS INC with 2.36 million shares, or about 7.7828% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $105.36 million.
We also have Federated Hermes Kaufmann Small Cap Fund and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Montrose Environmental Group Inc (MEG) shares. Going by data provided on Jul 31, 2024 , Federated Hermes Kaufmann Small Cap Fund holds roughly 1.35 shares. This is just over 3.94% of the total shares, with a market valuation of $30.44 million. Data from the same date shows that the other fund manager holds a little less at 962.46, or 2.81% of the shares, all valued at about 21.7 million.
