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Earnings Flashback: Since Reporting Quarterly Results 2 Weeks Ago Matrix Service Is Up 10.2% (MTRX)

Published on Sat, 05/25/2013 - 08:34
By Peter Chu

When Matrix Service (NASDAQ:MTRX) reported earnings two weeks ago on May 8th, 2013, analysts, on average, expected the company to report earnings of $0.23 on sales of $212.6 million. The company actually reported EPS of $0.25 on sales of $226.0 million, beating EPS estimates by $0.02 and beating revenue estimates by $13.4 million. Shares of Matrix Service have climbed from $14.74 to $16.25, representing a gain of 10.2% since the company reported earnings 17 days ago.

Matrix Service (NASDAQ:MTRX) has potential upside of 20.0% based on a current price of $16.25 and analysts' consensus price target of $19.50. The stock should find initial support at its 50-day moving average (MA) of $15.31 and further support at its 200-day MA of $12.95.

Matrix Service Company provides specialized on-site maintenance and construction services for petroleum refining and storage facilities, as well as water storage facilities for the private industry sector. The Company's services include the maintenance, inspection, design, repair, and construction of aboveground storage tanks.

In the past 52 weeks, Matrix Service share prices have been bracketed by a low of $7.34 and a high of $17.93 and closed Thursday at $16.25, 121% above that low price. The 200-day and 50-day moving averages have moved 1.27% higher and 0.61% higher over the past week, respectively.

By Peter Chu