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

Mayville Engineering (NYSE:MEC) posted its quarterly earnings data on Tuesday. The company reported $0.76 EPS for the quarter, topping the consensus estimate 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 Price Performance

Shares of MEC stock traded down $0.05 during trading hours on Tuesday, reaching $13.85. The company had a trading volume of 179,316 shares, compared to its average volume of 76,050. Mayville Engineering has a 12-month low of $12.23 and a 12-month high of $23.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.77. The company has a market capitalization of $285.84 million, a price-to-earnings ratio of 23.47 and a beta of 0.89. The stock has a fifty day moving average of $15.53 and a 200-day moving average of $17.65.

Analysts Set New Price Targets

Several analysts recently commented on the company. Northland Securities cut Mayville Engineering from an “outperform” rating to a “market perform” rating and dropped their price target for the stock 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.