FY2026 Earnings Forecast for MYR Group Issued By KeyCorp

Key Points

• KeyCorp forecasts MYR Group will earn $14.08 per share in FY2026, above the current consensus estimate of $13.46, and maintains an Overweight rating with a $361 price target. It also estimates EPS of $17.27 in FY2027 and $19.36 in FY2028.
• MYR Group’s latest quarter exceeded expectations, with EPS of $3.82 versus the $2.97 consensus and revenue of $1.26 billion versus $1.16 billion expected. Revenue rose 32.5% year over year.
• Analyst views are generally positive: MarketBeat reports a Moderate Buy consensus rating and an average price target of $397.

MYR Group, Inc. (NASDAQ:MYRG - Free Report) - Investment analysts at KeyCorp issued their FY2026 earnings estimates for MYR Group in a report issued on Wednesday, November 4th. KeyCorp analyst S. Jain expects that the utilities provider will post earnings of $14.08 per share for the year. KeyCorp currently has an "Overweight" rating and a $361.00 price target on the stock. The consensus estimate for MYR Group's current full-year earnings is $13.46 per share. KeyCorp also issued estimates for MYR Group's Q4 2026 earnings at $4.10 EPS, FY2027 earnings at $17.27 EPS and FY2028 earnings at $19.36 EPS.

MYR Group (NASDAQ:MYRG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The utilities provider reported $3.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.97 by $0.85. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.16 billion. MYR Group had a return on equity of 26.32% and a net margin of 4.48%. MYR Group's quarterly revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share.

Several other analysts have also recently commented on MYRG. Weiss Ratings cut MYR Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, September 2nd. Zacks Research upgraded shares of MYR Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 3rd. Robert W. Baird set a $363.00 price target on shares of MYR Group in a research report on Thursday, October 29th. Wall Street Zen downgraded shares of MYR Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 29th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $331.00 price objective on shares of MYR Group in a research note on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $397.00.

MYR Group Stock Performance

Shares of MYRG stock opened at $262.91 on Monday. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 21.36 and a beta of 1.36. The stock has a 50-day moving average of $285.67 and a 200-day moving average of $334.12. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.24. MYR Group has a 1-year low of $199.30 and a 1-year high of $503.57.

Hedge Funds Weigh In On MYR Group

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in MYR Group during the 2nd quarter worth $1,232,294,000. Dimensional Fund Advisors LP grew its stake in shares of MYR Group by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 376,175 shares of the utilities provider's stock worth $106,187,000 after acquiring an additional 10,198 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of MYR Group by 23.5% in the first quarter. First Trust Advisors LP now owns 203,732 shares of the utilities provider's stock valued at $57,518,000 after purchasing an additional 38,726 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of MYR Group by 94.7% in the third quarter. Congress Asset Management Co. now owns 143,103 shares of the utilities provider's stock valued at $41,852,000 after purchasing an additional 69,594 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of MYR Group by 4.2% during the first quarter. Bank of America Corp DE now owns 140,611 shares of the utilities provider's stock valued at $39,697,000 after purchasing an additional 5,667 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

About MYR Group

MYR Group Inc is a specialty electrical construction company that provides services through subsidiaries across the United States and Canada. Its work includes the engineering, construction, and maintenance of electrical infrastructure for utilities and other customers.

The company operates through Transmission and Distribution and Commercial and Industrial segments. Transmission and Distribution projects include electric transmission and distribution lines, substations, and related infrastructure, as well as maintenance and emergency restoration work.

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