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

Mayville Engineering (NYSE:MEC) posted its 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 net margin of 2.01% and a return on equity of 5.20%.

Mayville Engineering Stock Down 0.4 %

MEC traded down $0.05 on Tuesday, hitting $13.85. The company had a trading volume of 179,316 shares, compared to its average volume of 76,050. The stock has a fifty day simple moving average of $15.53 and a 200-day simple moving average of $17.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.77 and a quick ratio of 0.91. The firm has a market capitalization of $285.84 million, a P/E ratio of 23.47 and a beta of 0.89. Mayville Engineering has a 52-week low of $12.23 and a 52-week high of $23.02.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Northland Capmk cut Mayville Engineering from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities lowered 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 note 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.