Everus Construction Group, Inc. (NYSE:ECG - Get Free Report) shares reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $169.85 and last traded at $168.0850, with a volume of 2010037 shares traded. The stock had previously closed at $150.93.
The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.33. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $933.81 million. During the same period in the previous year, the business earned $0.72 EPS. The firm's revenue for the quarter was up 25.4% on a year-over-year basis.
Analysts Set New Price Targets
ECG has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on Everus Construction Group in a research note on Friday, January 23rd. They set a "neutral" rating and a $97.00 target price on the stock. Guggenheim upgraded Everus Construction Group from a "neutral" rating to a "buy" rating and set a $160.00 target price on the stock in a research note on Thursday, April 30th. DA Davidson restated a "neutral" rating and set a $102.00 target price on shares of Everus Construction Group in a research note on Wednesday, February 25th. Stifel Nicolaus boosted their target price on Everus Construction Group to $153.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Everus Construction Group in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $126.33.
Read Our Latest Analysis on Everus Construction Group
Institutional Trading of Everus Construction Group
Several large investors have recently added to or reduced their stakes in ECG. Royal Bank of Canada grew its stake in Everus Construction Group by 155.0% during the 1st quarter. Royal Bank of Canada now owns 48,839 shares of the company's stock valued at $1,811,000 after purchasing an additional 29,689 shares during the last quarter. Millennium Management LLC grew its stake in Everus Construction Group by 42.7% during the 1st quarter. Millennium Management LLC now owns 244,421 shares of the company's stock valued at $9,066,000 after purchasing an additional 73,128 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Everus Construction Group by 74.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company's stock valued at $6,631,000 after purchasing an additional 76,252 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Everus Construction Group by 33.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company's stock valued at $5,207,000 after purchasing an additional 34,868 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Everus Construction Group by 184.4% during the 1st quarter. Jane Street Group LLC now owns 71,323 shares of the company's stock valued at $2,645,000 after purchasing an additional 46,247 shares during the last quarter.
Everus Construction Group Trading Up 11.4%
The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.76. The company has a 50 day simple moving average of $123.61 and a two-hundred day simple moving average of $102.93. The firm has a market cap of $8.58 billion, a PE ratio of 42.66 and a beta of 2.55.
About Everus Construction Group
(
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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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