Zacks: Brokerages Set $26.17 Target Price for Montage Resources Corp (MR)

Montage Resources Corp (NYSE:MR) has been assigned an average broker rating score of 2.50 (Hold) from the four brokers that cover the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Montage Resources’ rating score has improved by 16.7% from 90 days ago as a result of various analysts’ ratings changes.

Analysts have set a 1-year consensus price objective of $26.17 for the company and are forecasting that the company will post $0.93 EPS for the current quarter, according to Zacks. Zacks has also assigned Montage Resources an industry rank of 47 out of 256 based on the ratings given to its competitors.

A number of brokerages have issued reports on MR. Zacks Investment Research upgraded Montage Resources from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Tuesday, April 16th. ValuEngine downgraded Montage Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 25th. Finally, Capital One Financial raised Montage Resources from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 8th.

Montage Resources stock opened at $10.49 on Thursday. The stock has a market cap of $362.23 million, a P/E ratio of 11.31 and a beta of 1.88. Montage Resources has a 52 week low of $9.44 and a 52 week high of $29.40. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

Montage Resources (NYSE:MR) last posted its earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.70 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.91. The firm had revenue of $141.50 million for the quarter, compared to analyst estimates of $125.10 million. Montage Resources had a return on equity of 8.73% and a net margin of 1.35%. Research analysts anticipate that Montage Resources will post 1.14 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. LSP Investment Advisors LLC bought a new stake in shares of Montage Resources during the first quarter valued at approximately $725,000. Blackstone Group L.P. acquired a new stake in shares of Montage Resources in the 1st quarter valued at $3,419,000. Morgan Stanley acquired a new stake in shares of Montage Resources in the 1st quarter valued at $1,368,000. Man Group plc bought a new position in Montage Resources in the 1st quarter worth $7,994,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Montage Resources during the 1st quarter worth about $51,184,000.

Montage Resources Company Profile

Montage Resources Corporation operates as an oil and natural gas exploration and production company. As of December 31, 2018, it had an acreage position comprising approximately 241,000 net acres in Ohio and Pennsylvania; and had estimated proved reserves of 1,864.7 billion cubic feet of natural gas equivalent.

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