Cantor Fitzgerald Issues Positive Forecast for Everus Construction Group (NYSE:ECG) Stock Price

Key Points

• Cantor Fitzgerald raised its price target on Everus Construction Group from $115 to $174, while keeping a neutral rating. The new target implies about 5.92% upside from the prior close.
• Everus recently reported strong quarterly results, with EPS of $1.14 versus the $0.81 estimate and revenue of $1.04 billion versus expectations of $933.81 million. Revenue also rose 25.4% from a year earlier.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating and an average target price of $154.83, even after several firms adjusted their views and targets in recent reports.

Everus Construction Group (NYSE:ECG - Get Free Report) had its target price boosted by equities researchers at Cantor Fitzgerald from $115.00 to $174.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Cantor Fitzgerald's target price suggests a potential upside of 5.92% from the stock's previous close.

Several other brokerages have also issued reports on ECG. Glj Research began coverage on Everus Construction Group in a report on Monday, April 20th. They set a "hold" rating and a $141.00 price target for the company. Freedom Capital cut Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 6th. Zacks Research downgraded Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Stifel Nicolaus set a $172.00 price target on shares of Everus Construction Group in a report on Friday. Finally, Guggenheim raised shares of Everus Construction Group from a "neutral" rating to a "buy" rating and set a $160.00 price objective for the company in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Everus Construction Group has a consensus rating of "Hold" and an average target price of $154.83.

Everus Construction Group Stock Performance

NYSE ECG opened at $164.27 on Monday. Everus Construction Group has a 52-week low of $47.77 and a 52-week high of $171.58. The stock has a market cap of $8.38 billion, a PE ratio of 37.27 and a beta of 2.55. The firm has a 50-day moving average of $125.94 and a 200-day moving average of $103.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.71 and a current ratio of 1.77.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.33. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $933.81 million. During the same period in the previous year, the firm earned $0.72 EPS. The company's quarterly revenue was up 25.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Everus Construction Group will post 4.32 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB acquired a new position in Everus Construction Group during the 4th quarter worth approximately $4,431,000. Capital International Investors acquired a new stake in Everus Construction Group in the third quarter valued at approximately $165,993,000. Range Financial Group LLC bought a new stake in shares of Everus Construction Group during the fourth quarter valued at approximately $1,146,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Everus Construction Group by 1,049.4% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,748 shares of the company's stock worth $5,209,000 after purchasing an additional 55,463 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Everus Construction Group by 88.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 104,881 shares of the company's stock valued at $8,994,000 after purchasing an additional 49,279 shares during the period.

Everus Construction Group Company Profile

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers. Everus Construction Group is based in BISMARCK, N.D.

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