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Mercury systems is a US-based maker of computer systems for missile guidance, tank guidance, and military drones and also provides engineering, modeling, and simulation software. Mercury had a good first quarter as bookings were up, revenue was up, and earnings were better than expected. Consensus estimates forecast the company's 2023 fiscal year revenue at $382.15 million, indicating a change of 1.80%. The current estimate brings the 12-month price target to $38, two cents higher than the previous forecast. The company fiscal year 2023 earnings are estimated to be $1.64, 4.66%, and 8.58% higher than the previous year's $1.57.

Mercury recently acquired Atlanta-based Avalex Technologies, a move that adds important capabilities and expertise in uncrewed systems and autonomous systems. According to the company, the acquisition also expands Mercury'8;s penetration in the fast-growing defense electronics market and expands its market share.

Several brokerage firms have recently rated the stock. In a research report, Credit Suisse group cut Mercury Systems from an "outperform" rating to a "neutral' rating and set a $46.00 target price for the company, down from $52.00 previously. In another report, raymond James raised mercury from a "market perform' to an "outperform" rating and set a $60.00 price objective. Stock analysts at Jefferies initiated coverage of MRcy in a research note released on Thursday, March 2, giving the company a "hold" rating. Finally, the stock of Mercury System was downgraded from a buy rating to Hold by Zacks investment Research in a note issued Fri, Mar 3.

Mercury declares $0.21 dividend. Mrcy has been paying dividends since 2011, and the dividend-yielding stock has risen 90% over the past 10 years. If you are looking for the best dividend yields in the market, make sure to visit our top-yielding dividend page. Over the past 52 weeks, MRcy stock was traded between a low of $37.88 and a high of $52.99.

MRcy shares are slightly up 0.65% in pre-market trading following the news, beating the formal consensus estimate. (Photo courtesy of Mercury Systems) Mercury reports Q2 FY23 EPS of $0.35, beating the analyst consensus estimate of $0.26 per share.

Analysts had forecast $0.25, while revenues rose 14% to $100.3 million, above analysts' $96.2 million forecast.