D.A. Davidson & Co. Sees FY15 Growth Outlook Near Projections for Mistras Group - MISTRAS Group (NYSE:MG)

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In a report published Thursday, D.A. Davidson & Co. analyst Tristan Richardson reiterated a Neutral rating and $26.00 price target on

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Mistras Group

(NYSE: MG).In the report, D.A. Davidson & Co. noted, “Operating earnings of $0.17 per share (excluding a non-cash gain) for fiscal Q4 compares with our projection of $0.24, a loss of $0.16 last year and consensus of $0.24. GAAP earnings of $0.22 per share included a $0.05 per share non-cash acquisition-related gain. Adjusted EBITDA for the quarter was $19 million versus $26.4 million last year and was at the lower end of management's implied guidance of $19-$23 million. Results included topline growth sharply above expectations including organic growth, offset by lower than expected margins due partly to facility closures and upfront costs on new work in Canada.”Mistras Group closed on Wednesday at $22.06.