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MG

Mistras

$16.49

0.76 (4.83%)

17:23
11/04/19
11/04
17:23
11/04/19
17:23

Mistras says seeing a weak Oil and Gas market

The company states: "Revenues and operating earnings were ahead of FY18 on a year to date basis through the first nine months, indicating a robust business. However, the strong momentum developed over the past two quarters encountered some headwinds coming into Q4 of 2019. The company is seeing a weak Oil and Gas market, and an overall Fall season that ended much sooner than anticipated. In particular, the company sees weaknesses in the Oil and Gas turnaround market that appears to be attributable to supply buildups earlier in the year, as well as refineries shifting resources to prepare for IMO2020. In addition, towards the middle of September 2019 and into October 2019, a note of caution unexpectedly arose amongst Oil and Gas customers, attributable primarily to increased macroeconomic uncertainty. It is the same note of caution that is being heard in various sectors, stemming from many factors, including trade tensions, negative European interest rates, and the slowdown in domestic GDP growth. Although the long-term outlook remains intact, these factors are clearly influencing current activity in the Oil and Gas market, resulting in pushouts of demand. Although the company feels very good about where it is and its outlook for the long term, this unexpected pause in the Oil and Gas end markets has created some immediate challenges, which will affect performance for the fourth quarter of 2019 and full year 2019."

  • 05

    Nov

MG Mistras
$16.49

0.76 (4.83%)

10/30/19
MAXM
10/30/19
INITIATION
Target $21
MAXM
Buy
Mistras initiated with a Buy at Maxim
Maxim analyst Tate Sullivan initiated coverage of Mistras with a Buy rating and $21 price target.
10/31/19
10/31/19
INITIATION
Target $21

Buy
Mistras initiated with a Buy at Maxim
As previously reported, Maxim analyst Tate Sullivan initiated coverage of Mistras with a Buy rating and $21 price target. The analyst believes that the company can increase margins from recurring software fees attached to predictive maintenance contracts and also anticipates that it will lower its leverage to 2-times next year from 4-times as of Q2 of 2019. Despite its exposure to cyclical end markets, Sullivan adds that Mistras was able to generate free cash flow in 9 of the past 10 quarters.
10/31/19
10/31/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Mistras (MG) initiated with a Buy at Maxim. 2. Paylocity (PCTY) assumed with a Sector Perform at RBC Capital. 3. Transcat (TRNS) resumed with a Buy at Roth Capital. 4. Amarin (AMRN) initiated with a Buy at Aegis. 5. SilverCrest Metals (SILV) initiated with a Neutral at B. Riley FBR. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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