During the last session, Montrose Environmental Group Inc (NYSE:MEG)’s traded shares were 0.51 million, with the beta value of the company hitting 1.74. At the end of the trading day, the stock’s price was $23.52, reflecting an intraday gain of 4.53% or $1.02. The 52-week high for the MEG share is $49.97, that puts it down -112.46 from that peak though still a striking 35.33% gain since the share price plummeted to a 52-week low of $15.21. The company’s market capitalization is $806.76M, and the average intraday trading volume over the past 10 days was 0.57 million shares, and the average trade volume was 653.22K 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 1.71. 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 0.26.
Montrose Environmental Group Inc (NYSE:MEG) trade information
Montrose Environmental Group Inc (MEG) registered a 4.53% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.53% in intraday trading to $23.52, hitting a weekly high. The stock’s 5-day price performance is 5.61%, and it has moved by 38.11% in 30 days. Based on these gigs, the overall price performance for the year is -23.09%. The short interest in Montrose Environmental Group Inc (NYSE:MEG) is 3.17 million shares and it means that shorts have 4.74 day(s) to cover.
The consensus price target of analysts on Wall Street is $43, which implies an increase of 45.3% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $43 and $43 respectively. As a result, MEG is trading at a discount of -82.82% off the target high and -82.82% 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 -23.01% during the last six months, with a year-to-date growth rate less than the industry average at -10.28% against 13.30. In the rating firms’ projections, revenue will increase 12.12% 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 187.64M as predicted by 6 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to 172.54M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 165.74M and 155.32M respectively. In this case, analysts expect current quarter sales to grow by 13.21% and then jump by 11.08% 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 -2.97% in 2025.
MEG Dividends
Montrose Environmental Group Inc is due to release its next quarterly earnings in February. 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 7.00% of total outstanding shares while institutional holders control 102.90%, with the float percentage being 110.65%. BLACKROCK INC. is the largest shareholder of the company, while 267.0 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.
Also, the Mutual Funds coming in first place with the largest holdings of Montrose Environmental Group Inc (MEG) shares are Vanguard Total Stock Market Index Fund and Baron Discovery Fund . Data provided on Sep 30, 2024 indicates that Vanguard Total Stock Market Index Fund owns about 961.73 shares. This amounts to just over 2.80 percent of the company’s overall shares, with a $22.62 million market value. The same data shows that the other fund manager holds slightly less at 938.49, or about 2.74% of the stock, which is worth about $22.07 million.
