Everus Construction Group (NYSE:ECG) Posts Quarterly Earnings Results, Beats Expectations By $0.48 EPS

Key Points

• Everus Construction Group beat quarterly earnings expectations, reporting EPS of $1.79 versus the $1.31 consensus and revenue of $1.38 billion versus expectations of $1.19 billion.
• The stock rose 9.8% on Tuesday to $113.06, with trading volume well above its average.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $169.50; ratings range from Strong Buy to Hold.

Everus Construction Group (NYSE:ECG - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.48, FiscalAI reports. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.19 billion. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%.

Everus Construction Group Trading Up 9.8%

Everus Construction Group stock traded up $10.07 during trading on Tuesday, hitting $113.06. The company had a trading volume of 2,029,190 shares, compared to its average volume of 616,349. Everus Construction Group has a 1-year low of $78.14 and a 1-year high of $171.58. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The company's 50 day simple moving average is $114.27 and its 200-day simple moving average is $125.30. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 22.75 and a beta of 2.36.

Insiders Place Their Bets

In other news, Director David Sparby purchased 1,000 shares of the firm's stock in a transaction on Monday, August 17th. The shares were bought at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the purchase, the director directly owned 19,658 shares of the company's stock, valued at approximately $2,849,427.10. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Sanderson sold 3,300 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $136.69, for a total value of $451,077.00. Following the transaction, the vice president owned 18,950 shares of the company's stock, valued at approximately $2,590,275.50. This represents a 14.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ECG has been the topic of several analyst reports. Cantor Fitzgerald reduced their price target on shares of Everus Construction Group from $174.00 to $152.00 and set a "neutral" rating on the stock in a research report on Thursday, August 13th. Zacks Research cut Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. Freedom Capital raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Everus Construction Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Finally, DA Davidson initiated coverage on Everus Construction Group in a research note on Friday, August 21st. They issued a "buy" rating and a $168.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Everus Construction Group currently has a consensus rating of "Moderate Buy" and an average price target of $169.50.

About Everus Construction Group

Everus Construction Group, Inc NYSE: ECG is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.

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