Mayville Engineering (NYSE:MEC) Releases Quarterly Earnings Results, Beats Estimates By $0.89 EPS

Mayville Engineering (NYSE:MEC) released its quarterly earnings results on Tuesday. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.89, Zacks reports. Mayville Engineering had a return on equity of 5.20% and a net margin of 2.01%.

Mayville Engineering Trading Down 0.4 %

MEC traded down $0.05 during mid-day trading on Tuesday, hitting $13.85. 179,316 shares of the stock were exchanged, compared to its average volume of 76,050. The firm’s fifty day moving average is $15.53 and its two-hundred day moving average is $17.65. Mayville Engineering has a 1-year low of $12.23 and a 1-year high of $23.02. The company has a market cap of $285.84 million, a PE ratio of 23.47 and a beta of 0.89. The company has a current ratio of 1.77, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Analysts Set New Price Targets

A number of research firms have commented on MEC. Northland Securities cut shares of Mayville Engineering from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $30.00 to $20.00 in a research report on Thursday, November 7th. Northland Capmk lowered shares of Mayville Engineering from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th.

About Mayville Engineering

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.