News coverage about MYR Group (NASDAQ:MYRG) has been trending somewhat positive this week, according to Accern. Accern rates the sentiment of press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. MYR Group earned a media sentiment score of 0.06 on Accern’s scale. Accern also assigned media coverage about the utilities provider an impact score of 45.2322835017834 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
MYRG has been the topic of several recent analyst reports. Zacks Investment Research lowered MYR Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Robert W. Baird set a $39.00 price target on MYR Group and gave the company a “buy” rating in a research note on Monday, April 9th. Canaccord Genuity boosted their price target on MYR Group from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, March 9th. BidaskClub downgraded MYR Group from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Finally, ValuEngine downgraded MYR Group from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $35.83.
Shares of NASDAQ MYRG traded up $0.11 during midday trading on Tuesday, hitting $31.21. 25,898 shares of the stock traded hands, compared to its average volume of 88,922. The company has a market cap of $509.50, a price-to-earnings ratio of 38.38 and a beta of 0.46. MYR Group has a one year low of $23.00 and a one year high of $43.49. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.
MYR Group (NASDAQ:MYRG) last released its quarterly earnings data on Wednesday, March 7th. The utilities provider reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The firm had revenue of $373.50 million during the quarter, compared to the consensus estimate of $373.85 million. MYR Group had a return on equity of 4.90% and a net margin of 1.51%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 earnings per share. equities research analysts anticipate that MYR Group will post 1.92 earnings per share for the current year.
In other news, Chairman William A. Koertner sold 20,978 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $35.18, for a total transaction of $738,006.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.90% of the company’s stock.
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About MYR Group
MYR Group Inc, through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The Transmission and Distribution segment offers a range of services on electric transmission and distribution networks, and substation facilities, including design, engineering, procurement, construction, upgrade, maintenance, and repair services with primary focus on construction, maintenance, and repair to customers in the electric utility and the renewable energy industries.
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