Mercury Systems Inc. (NASDAQ:MRCY) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.09-1.09 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.00. The company issued revenue guidance of $370-380 million, compared to the consensus revenue estimate of $372.11 million.Mercury Systems also updated its Q2 guidance to $0.22-0.27 EPS.
Mercury Systems Inc. (NASDAQ:MRCY) traded up 0.63% on Tuesday, reaching $24.05. The company had a trading volume of 158,465 shares. The stock has a market cap of $970.66 million, a price-to-earnings ratio of 42.95 and a beta of 0.86. Mercury Systems Inc. has a one year low of $15.67 and a one year high of $26.37. The company has a 50-day moving average of $23.54 and a 200 day moving average of $23.02.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08. The firm earned $87.65 million during the quarter, compared to analysts’ expectations of $85.08 million. Mercury Systems had a return on equity of 6.47% and a net margin of 7.31%. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS. On average, equities research analysts predict that Mercury Systems Inc. will post $0.91 EPS for the current year.
Several research firms have recently weighed in on MRCY. Jefferies Group reiterated a hold rating and issued a $27.00 price objective (up from $22.00) on shares of Mercury Systems in a research note on Thursday, August 4th. Noble Financial reiterated a hold rating on shares of Mercury Systems in a research note on Wednesday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered Mercury Systems from a buy rating to a sell rating in a research note on Friday. Robert W. Baird began coverage on Mercury Systems in a research note on Wednesday, October 5th. They issued an outperform rating and a $30.00 price objective on the stock. Finally, Drexel Hamilton began coverage on Mercury Systems in a research note on Thursday, August 25th. They issued a buy rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $27.33.
In related news, Director Vincent Vitto sold 8,000 shares of the stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $24.27, for a total transaction of $194,160.00. Following the sale, the director now directly owns 61,893 shares in the company, valued at approximately $1,502,143.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in Mercury Systems by 36.6% in the second quarter. Sei Investments Co. now owns 5,966 shares of the company’s stock valued at $148,000 after buying an additional 1,599 shares in the last quarter. BlackRock Advisors LLC increased its position in Mercury Systems by 13.4% in the second quarter. BlackRock Advisors LLC now owns 17,936 shares of the company’s stock valued at $446,000 after buying an additional 2,114 shares in the last quarter. American International Group Inc. increased its position in Mercury Systems by 13.9% in the second quarter. American International Group Inc. now owns 29,176 shares of the company’s stock valued at $725,000 after buying an additional 3,567 shares in the last quarter. Arizona State Retirement System increased its position in Mercury Systems by 23.1% in the second quarter. Arizona State Retirement System now owns 20,775 shares of the company’s stock valued at $516,000 after buying an additional 3,900 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Mercury Systems by 27.2% in the second quarter. Thrivent Financial for Lutherans now owns 19,490 shares of the company’s stock valued at $485,000 after buying an additional 4,170 shares in the last quarter. Institutional investors and hedge funds own 91.83% 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. The Company’s technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.