With 0.79 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.54 million shares. The 52-week range on MEG shows that it touched its highest point at $49.97 and its lowest point at $15.21 during that stretch. It currently has a 1-year price target of $34.83. Beta for the stock currently stands at 1.74.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MEG was down-trending over the past week, with a drop of -5.68%, but this was down by -16.79% over a month. Three-month performance surged to 5.96% while six-month performance fell -39.26%. The stock lost -52.50% in the past year, while it has lost -5.18% so far this year. A look at the trailing 12-month EPS for MEG yields -2.21 with Next year EPS estimates of 0.10. For the next quarter, that number is -0.39. This implies an EPS growth rate of 89.28% for this year and 141.67% for next year.
Float and Shares Shorts:
At present, 34.31 million MEG shares are outstanding with a float of 30.14 million shares on hand for trading.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MEG since 8 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. Analysts have provided yearly estimates in a range of -$1.31555 being high and -$2.54888 being low. For MEG, this leads to a yearly average estimate of -$1.97333. Based on analyst estimates, the high estimate for the next quarter is $0.2 and the low estimate is $0.2. The average estimate for the next quarter is thus $0.2.
