Stock News in Focus: Magal Security Systems, Ltd. (NASDAQ:MAGS)

Magal Security Systems, Ltd. (NASDAQ:MAGS) stock identified change of 23.72% away from 52-week low price and recently located move of -18.78% off 52-week high price. It has market worth of $111.41M. MAGS stock has been recorded -1.15% away from 50 day moving average and -5.29% away from 200 day moving average. Moving closer, we can see that shares have been trading -3.71% off 20-day moving average.

On Aug.15, 2019, Magal Security Systems, Ltd. (NASDAQ:MAGS) released its financial results for the three and six months ended June 30, 2019. SECOND QUARTER 2019 HIGHLIGHTS

  • Revenue of $19.7 million, 38% of which were product revenues, versus 31% of revenues in Q2 last year
  • Operating income of $0.2 million and net loss of $0.3 million
  • EBITDA of $0.7 million
  • Quarter-end net cash at $52.2 million

MANAGEMENT COMMENT

Commenting on the results, Mr. Dror Sharon, CEO of Magal, said,We are pleased with the overall trends in our product revenues in the first half of the year, which have grown year-over-year since 2017. Furthermore, we are successfully executing on our strategy of expanding sales in strategic verticals. Our new oil & gas and logistics & transportation verticals are seeing increased interest from both existing and potential customers.

With regard to revenues from projects, in the second quarter of this year we experienced a general delay in tenders for new security projects in Latin America and Canada, mainly due to budget and political reasons, related to our core verticals in these territories. This had a significant impact on our results during the first half of the year compared to 2018. With that said, looking to the years ahead, we have a strong projects backlog and our pipeline is more geographically and vertically diverse than last year. We are also pleased that our project business in other geographies, including Israel, Africa and Spain performed well this quarter.

The Services sector company, Magal Security Systems Ltd. noticed change of 2.13% to $4.8 along volume of 7008 shares in recent session compared to an average volume of 10.91K. The stock observed return of -1.63% in 5 days trading activity. The stock was at 0.01% over one month performance. MAGS’s shares are at -8.57% for the quarter and driving a -8.39% return over the course of the past year and is now at 7.87% since this point in 2018.

The average volatility for the week at 2.90% and for month was at 2.90%. There are 23.21M shares outstanding and 13.28M shares are floated in market. Right now the stock beta is 1.19.

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