Wall Street brokerages expect MYR Group Inc (NASDAQ:MYRG) to post earnings of $0.19 per share for the current quarter, Zacks reports. Four analysts have issued estimates for MYR Group’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.09. MYR Group reported earnings per share of $0.07 in the same quarter last year, which indicates a positive year over year growth rate of 171.4%. The business is scheduled to announce its next earnings results on Wednesday, May 2nd.
On average, analysts expect that MYR Group will report full-year earnings of $1.88 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $2.19. For the next financial year, analysts forecast that the company will post earnings of $2.18 per share, with EPS estimates ranging from $2.10 to $2.35. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for MYR Group.
MYR Group (NASDAQ:MYRG) last announced its quarterly earnings results on Wednesday, March 7th. The utilities provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. MYR Group had a net margin of 1.51% and a return on equity of 4.90%. The business had revenue of $373.50 million for the quarter, compared to analysts’ expectations of $373.85 million. During the same quarter last year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year.
Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of MYR Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Canaccord Genuity lifted their target price on shares of MYR Group from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, March 9th. Robert W. Baird reissued an “outperform” rating on shares of MYR Group in a research report on Thursday, March 8th. BidaskClub cut shares of MYR Group from a “hold” rating to a “sell” rating in a research report on Wednesday, February 28th. Finally, ValuEngine cut shares of MYR Group from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $36.00.
Several institutional investors have recently bought and sold shares of the business. MetLife Investment Advisors LLC bought a new position in shares of MYR Group during the 4th quarter worth approximately $246,000. Macquarie Group Ltd. lifted its position in shares of MYR Group by 8.7% during the 4th quarter. Macquarie Group Ltd. now owns 939,473 shares of the utilities provider’s stock worth $33,567,000 after buying an additional 74,981 shares in the last quarter. Raymond James & Associates bought a new position in shares of MYR Group during the 4th quarter worth approximately $236,000. Guggenheim Capital LLC lifted its position in shares of MYR Group by 7.3% during the 4th quarter. Guggenheim Capital LLC now owns 43,727 shares of the utilities provider’s stock worth $1,563,000 after buying an additional 2,958 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of MYR Group during the 4th quarter worth approximately $1,170,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.
MYR Group stock opened at $35.20 on Monday. MYR Group has a 1 year low of $23.00 and a 1 year high of $43.49. The firm has a market cap of $579.64, a PE ratio of 27.72 and a beta of 0.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 2.01.
About MYR Group
MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.
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