Mercury Systems Inc (NASDAQ:MRCY) – Stock analysts at Jefferies Group reduced their FY2018 earnings per share estimates for shares of Mercury Systems in a research report issued on Wednesday. Jefferies Group analyst S. Kahyaoglu now forecasts that the technology company will earn $0.94 per share for the year, down from their prior estimate of $1.24. Jefferies Group currently has a “Hold” rating and a $45.00 target price on the stock. Jefferies Group also issued estimates for Mercury Systems’ FY2019 earnings at $0.98 EPS and FY2020 earnings at $1.12 EPS.
Several other analysts also recently weighed in on the company. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a research report on Thursday, April 20th. Zacks Investment Research downgraded Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 15th. Finally, BidaskClub upgraded Mercury Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $43.00.
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Shares of Mercury Systems (MRCY) traded up 1.089% on Monday, reaching $45.035. 129,293 shares of the company’s stock were exchanged. Mercury Systems has a one year low of $21.52 and a one year high of $45.07. The company’s 50 day moving average is $42.18 and its 200-day moving average is $38.87. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 77.647 and a beta of 0.39.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.08. The company had revenue of $115.60 million during the quarter, compared to analyst estimates of $115.11 million. Mercury Systems had a net margin of 6.09% and a return on equity of 4.87%. The firm’s revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS.
In related news, insider Mark Aslett sold 9,600 shares of Mercury Systems stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $39.54, for a total value of $379,584.00. Following the completion of the sale, the insider now directly owns 547,849 shares in the company, valued at $21,661,949.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 28,600 shares of company stock valued at $1,123,656 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in MRCY. BlackRock Inc. increased its stake in Mercury Systems by 242,823.0% in the first quarter. BlackRock Inc. now owns 6,646,372 shares of the technology company’s stock valued at $259,540,000 after buying an additional 6,643,636 shares during the last quarter. Vanguard Group Inc. increased its stake in Mercury Systems by 21.6% in the first quarter. Vanguard Group Inc. now owns 3,938,032 shares of the technology company’s stock valued at $153,780,000 after buying an additional 700,484 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Mercury Systems by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 1,573,345 shares of the technology company’s stock valued at $61,439,000 after buying an additional 292,704 shares during the last quarter. State Street Corp increased its stake in Mercury Systems by 44.0% in the first quarter. State Street Corp now owns 1,488,490 shares of the technology company’s stock valued at $58,127,000 after buying an additional 455,128 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Mercury Systems by 920.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,176 shares of the technology company’s stock valued at $48,077,000 after buying an additional 1,110,474 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.
About Mercury Systems
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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