Mayville Engineering (NYSE:MEC) Issues Earnings Results

by · The Markets Daily

Mayville Engineering (NYSE:MEC – Get Free Report) posted its earnings results on Tuesday. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05), Zacks reports. The firm had revenue of $135.39 million for the quarter, compared to the consensus estimate of $157.22 million. Mayville Engineering had a return on equity of 5.81% and a net margin of 1.69%. During the same period in the prior year, the business earned $0.21 EPS. Mayville Engineering updated its FY 2024 guidance to EPS.

Mayville Engineering Stock Performance

MEC stock traded down $5.41 during mid-day trading on Wednesday, hitting $16.40. The company had a trading volume of 363,714 shares, compared to its average volume of 89,754. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.97 and a current ratio of 1.71. The firm has a market cap of $338.17 million, a PE ratio of 28.42 and a beta of 0.97. Mayville Engineering has a 12 month low of $10.75 and a 12 month high of $23.02. The stock’s fifty day moving average price is $20.05 and its two-hundred day moving average price is $17.93.

Wall Street Analysts Forecast Growth

Separately, Northland Securities reiterated an “outperform” rating and set a $30.00 price target on shares of Mayville Engineering in a report on Tuesday, October 8th.

Read Our Latest Analysis on Mayville Engineering

Insider Activity

In related news, EVP Ryan F. Raber sold 21,508 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $19.15, for a total value of $411,878.20. Following the transaction, the executive vice president now owns 97,053 shares in the company, valued at approximately $1,858,564.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.40% of the company’s stock.

Mayville Engineering Company Profile

(Get Free Report)

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.

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