During the last session, Montrose Environmental Group Inc (NYSE:MEG)’s traded shares were 0.74 million, with the beta value of the company hitting 1.89. At the end of the trading day, the stock’s price was $22.33, reflecting an intraday gain of 9.73% or $1.98. The 52-week high for the MEG share is $49.97, that puts it down -123.78 from that peak though still a striking 12.27% gain since the share price plummeted to a 52-week low of $19.59. The company’s market capitalization is $764.36M, and the average intraday trading volume over the past 10 days was 0.96 million shares, and the average trade volume was 563.28K shares over the past three months.
Montrose Environmental Group Inc (MEG) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.14. MEG has a Sell rating from 0 analyst(s) out of 8 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.09.
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Montrose Environmental Group Inc (NYSE:MEG) trade information
Montrose Environmental Group Inc (MEG) registered a 9.73% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 9.73% in intraday trading to $22.33, hitting a weekly high. The stock’s 5-day price performance is -0.98%, and it has moved by -20.25% in 30 days. Based on these gigs, the overall price performance for the year is -20.28%. The short interest in Montrose Environmental Group Inc (NYSE:MEG) is 3.27 million shares and it means that shorts have 5.45 day(s) to cover.
The consensus price target of analysts on Wall Street is $52.5, which implies an increase of 57.47% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $51 and $54 respectively. As a result, MEG is trading at a discount of -141.83% off the target high and -128.39% off the low.
Montrose Environmental Group Inc (MEG) estimates and forecasts
Statistics show that Montrose Environmental Group Inc has underperformed its competitors in share price, compared to the industry in which it operates. Montrose Environmental Group Inc (MEG) shares have gone down -50.00% during the last six months, with a year-to-date growth rate less than the industry average at 5.61% against 5.70. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 76.90% this quarter and then jump 50.00% in the quarter after that. In the rating firms’ projections, revenue will increase 14.20% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 185.47M as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to 195.59M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 167.48M and 165.74M respectively. In this case, analysts expect current quarter sales to grow by 10.70% and then jump by 18.00% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -10.88%. While earnings are projected to return 47.77% in 2024.
MEG Dividends
Montrose Environmental Group Inc is due to release its next quarterly earnings on 2024-Nov-05. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Montrose Environmental Group Inc (NYSE:MEG)’s Major holders
Montrose Environmental Group Inc insiders own 6.90% of total outstanding shares while institutional holders control 101.13%, with the float percentage being 108.63%. BLACKROCK INC. is the largest shareholder of the company, while 264.0 institutions own stock in it. As of 2024-06-30, the company held over 2.52 million shares (or 8.284% of all shares), a total value of $112.15 million in shares.
The next largest institutional holding, with 2.36 million shares, is of UBS ASSET MANAGEMENT AMERICAS INC’s that is approximately 7.7828% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $105.36 million.
