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Matrix Service Co (MTRX) stock soared to a 52-week high, reaching a price level of $13.94. With a market capitalization of $379 million, the company maintains a strong balance sheet, holding more cash than debt. This peak reflects a significant uptrend for the company, which specializes in engineering, construction, and maintenance services for the energy and industrial markets. According to InvestingPro, analyst price targets range from $16 to $18, suggesting potential further upside. Over the past year, Matrix Service Co has witnessed a remarkable turnaround, with its stock value climbing by 43.15%, including a strong 31.67% gain in the past six months. This impressive performance underscores the company's robust trajectory, with analysts expecting sales growth this year. The achievement of this 52-week high marks a noteworthy milestone for Matrix Service Co as it continues to navigate the dynamic energy sector landscape. InvestingPro subscribers have access to 10+ additional exclusive insights about MTRX's financial health and growth prospects.
In other recent news, Matrix Service Company (NASDAQ:MTRX) has reported a strong outlook for the year ahead with a backlog of $1.4 billion, despite a decrease in quarterly revenue from $197.7 million to $165.6 million. The company's optimism is supported by a robust balance sheet, boasting $150 million in cash and no debt. The revenue guidance for fiscal 2025 has been reaffirmed at $900 million to $950 million, indicating a year-over-year increase of 24% to 30%.
Matrix Service Company expects a return to profitability in fiscal 2025, with growth opportunities in LNG, NGL, and ammonia storage sectors. The Utility and Power Infrastructure segment saw a significant revenue increase of over 70% to $55.9 million, while the Process and Industrial Facilities segment revenue fell to $31 million. The company's management also sees a near-term opportunity of approximately $200 million related to LNG terminal projects, with the potential lifting of the LNG export permit moratorium possibly unlocking more future opportunities. These are the recent developments that investors should keep an eye on.
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