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TheStreet Open House

Why Matrix Service (MTRX) Stock Is Plummeting Today

NEW YORK (TheStreet) -- Shares of Matrix Service Co. (MTRX) are falling by -24.30% to $22.05 on heavy volume in mid-morning trading on Thursday, after the company reported fiscal 2014 fourth quarter net income, and full year 2015 earnings per share estimates that fell short of analysts' expectations.

The company, which provides engineering, fabrication, construction, and maintenance services to a variety of industries including oil, gas, power and petrochemical markets, said net income for the most recent quarter was $7.6 million, or 28 cents per share.

Matrix guided for full year 2015 earnings per share between $1.40 and $1.60 per diluted share.

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Analysts polled by Thomson Reuters expected Matrix to post earnings of 36 cents per share for the latest quarter, and have forecast for full year 2015 earnings of $1.77 per share.

So far, 1.37 million shares of Matrix Services have exchanged hands as compared to its average daily volume of 268,000 shares.

Separately, TheStreet Ratings team rates MATRIX SERVICE CO as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate MATRIX SERVICE CO (MTRX) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

You can view the full analysis from the report here: MTRX Ratings Report

MTRX Chart MTRX data by YCharts

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