Mercury Systems Inc (MRCY) was Initiated by Citigroup to “Buy” and the brokerage firm has set the Price Target at $27. Citigroup advised their investors in a research report released on Jun 10, 2016.
On the company’s financial health, Mercury Systems Inc reported $0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.20. The company had revenue of $65.90 million for the quarter, compared to analysts expectations of $65.24 million. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.
Mercury Systems Inc opened for trading at $21.36 and hit $21.62 on the upside on Thursday, eventually ending the session at $21.57, with a gain of 0.28% or 0.06 points. The heightened volatility saw the trading volume jump to 1,44,961 shares. Company has a market cap of $863 M.
In a different news, on May 6, 2016, Didier M C Thibaud (EVP, COO) sold 77,000 shares at $20.52 per share price. According to the SEC, on Nov 9, 2015, Mark Aslett (President and CEO) sold 15,000 shares at $18.09 per share price. On Nov 4, 2015, Vincent Vitto (director) sold 16,000 shares at $16.92 per share price, according to the Form-4 filing with the securities and exchange commission.
Mercury Systems Inc. is a commercial provider of secure and sensor processing subsystems. The Company has two segments: Mercury Commercial Electronics (MCE) and Mercury Defense Systems (MDS). The Company’s MCE segment offers technologies which include embedded processing modules and subsystems radio frequency (RF) and microwave multi-function assemblies as well as subsystems and RF and microwave components. MDS provides capabilities relating to pre-integrated electronic attack (EA) and electronic counter measure subsystems signals intelligence and electro-optical/infrared processing technologies and radar environment test and simulation systems. The Company’s products and solutions are deployed in more than 300 programs with over 25 different defense prime contractors. Its programs include Aegis Patriot Surface Electronic Warfare Improvement Program (SEWIP) Gorgon Stare Predator F-35 and Reaper.