() updated its FY2023 earnings guidance Wednesday. The company gave a guidance for earnings per share (EPS), which ranged from $1.36 to $1.50, as opposed to the consensus estimate at $1.93. The company provided revenue guidance between $990.00M and $1.01 billion compared to the consensus estimate of $1.03billion. Mercury Systems updated its Q4 guidance for 2023 to $0.47-$0.61 per share.
Wall Street analysts forecast growth
In a report published on Thursday 16th March, Mercury Systems shares were covered. The stock was given a hold rating. In a research note published on February 1, Raymond James raised their price target on Mercury Systems shares from $55.00 up to $60.00, and gave it an outperform ranking. Truist Financial reduced their price target on shares of Mercury Systems in a Wednesday research report from $69.00 down to $58.00. Jefferies Financial Group raised their price target for shares of Mercury Systems to $55.00 in a research report published on Monday, 6th February. The company was also given a Hold rating. Royal Bank of Canada reduced its price target for shares of Mercury Systems in a Wednesday report from $54.00 down to $45.00. Four analysts gave the stock a hold rating, while three others assigned the company a buy rating. Trading hours were held on Thursday and the stock reached $39.16. 916,727 company shares were traded, compared with its average volume (336,422). The company's debt-to equity ratio is 0.33. Its quick ratio is 2.92, and its current ratio is 4.47. Mercury Systems's 1-year low is $34.13 while its 1-year high is $65.42.
The last time ) released its results was on January 31st. The technology company posted $0.08 per share in the third quarter, falling short of analysts' expectations ($0.03). Revenue for the quarter was $229.59 millions, which is lower than the $233.25-million consensus estimate. Mercury Systems' net margin was negative at 0.42%, but its return on equity was positive at 4.71%. Equities analysts expect Mercury Systems to post 1,22 earnings per share in the current fiscal.
Insiders Bet on the Future
Mercury Systems EVP Christopher C. Cambria has sold 476 shares in the company stock on Thursday, 16th February. The shares were purchased at a price of $54.37 on average, resulting in a transaction total of $25,880.12. The executive vice president owns directly 117,858 of the company's shares, worth $6,407 939.46. The transaction took place on Thursday, 16th February. The shares were sold for an average price $54.37. This totaled $25,880.12. The executive vice president owns directly 117,858 of the company's shares, worth $6,407 939.46. The stock was sold in an exchange that took place on February 21st. The shares were purchased at an average of $52.98, resulting in a transaction total of $252,449.70. After the sale, the chief executives now owns directly 513,638 company shares, valued at $27 212 541.24. Insiders sold 10,851 company shares worth $582,461 in the past ninety-day period. Insiders own 2.10%.
Institutional Investors weigh in on Mercury Systems
Hedge funds have recently bought and sold shares of the company. Starboard Value LP bought a new position in shares of Mercury Systems in the 1st quarter valued at about $230,973,000. Invesco Ltd. lifted its holdings in shares of Mercury Systems by 218.0% during the 1st quarter. Invesco Ltd. now owns 720,322 shares of the technology company's stock worth $46,425,000 after acquiring an additional 493,801 shares during the period. State Street Corp increased its position in Mercury Systems by 16.1% during the 3rd quarter. State Street Corp now owns 2,765,679 shares of the technology company's stock worth $112,287,000 after purchasing an additional 382,507 shares in the last quarter. Norges Bank acquired a new position in Mercury Systems during the 4th quarter worth approximately $14,108,000. Finally, Goldman Sachs Group Inc. increased its position in Mercury Systems by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,188,057 shares of the technology company's stock worth $141,020,000 after purchasing an additional 159,068 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.
Mercury Systems Company Profile
Mercury Systems, Inc. is a commercial technology company that serves the aerospace and defence industry. Mercury Systems, Inc. offers its products in three categories: Modules and sub-assemblies; and Integrated Subsystems. The Components section refers to elements of technology that perform a discrete, single-function technological function. When physically combined with another component, they can be used to create modules or subassemblies.
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