Mirion Technologies, Inc. (MIR) stock soared to an all-time high this week, reaching a peak of $18.67 USD. The company, now valued at $3.73 billion, has caught analysts' attention with a bullish consensus rating and price targets ranging from $14 to $21. This milestone underscores a period of robust growth for the company, which has seen its stock value surge by an impressive 83.99% over the past year. While currently not profitable, InvestingPro analysis indicates the company is expected to turn profitable this year, with strong liquidity demonstrated by a current ratio of 2.16. Investors have shown increasing confidence in Mirion's market position and future prospects, propelling the stock to new heights and setting a strong precedent for its performance in the coming months. For deeper insights, including 12 additional ProTips and comprehensive valuation metrics, explore the detailed Pro Research Report available on InvestingPro.
In other recent news, Mirion Technologies reported an 8% increase in Q3 revenue, reaching $207 million, and an adjusted EPS of $0.08. Despite a 30% year-over-year decline in third-quarter orders, the company has been experiencing growth in the nuclear power and cancer care markets. Mirion Technologies also reaffirmed its full-year 2024 adjusted EBITDA guidance of $195 million to $205 million and its EPS forecast of $0.37 to $0.42.
The company has secured two significant contracts for the Sizewell C project, contributing to a shift of $30 million in orders from Q2 to Q3. However, the company faced a setback with the de-booking of half of a Turkish new build award valued at $21 million due to contractual disputes.
Citi and Goldman Sachs have both updated their stances on Mirion Technologies, raising their price targets and maintaining a Buy rating. These adjustments reflect optimism about the company's growth potential and the growing momentum in the nuclear new build sector. These are among the recent developments at Mirion Technologies.
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