Everus Construction Group (NYSE:ECG) Issues Earnings Results

Key Points

• Everus reported quarterly EPS of $1.14 versus $0.81 expected, beating estimates by $0.33 and showing a return on equity of 37.06% with a net margin of 5.39%.
• Shares jumped 11.4% to $168.09 on heavy volume (2.01M vs. avg. 663k), trading near a 12‑month high and reflecting a market cap of $8.58 billion and a P/E of 42.66.
• Despite the rally, analysts' consensus is a "Hold" with an average price target of $126.33, below the current share price (three Buys, five Holds).

Everus Construction Group (NYSE:ECG - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.33, Zacks reports. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.

Everus Construction Group Stock Up 11.4%

Shares of NYSE ECG traded up $17.16 on Tuesday, hitting $168.09. The company had a trading volume of 2,010,037 shares, compared to its average volume of 662,993. Everus Construction Group has a 12-month low of $43.86 and a 12-month high of $169.85. The business has a 50 day moving average of $122.41 and a two-hundred day moving average of $102.38. The company has a quick ratio of 1.70, a current ratio of 1.76 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $8.58 billion, a P/E ratio of 42.66 and a beta of 2.55.

Institutional Investors Weigh In On Everus Construction Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC boosted its position in shares of Everus Construction Group by 10.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,457 shares of the company's stock worth $367,000 after buying an additional 410 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Everus Construction Group in the fourth quarter valued at $332,000. Summit Global Investments purchased a new position in shares of Everus Construction Group in the fourth quarter valued at $1,268,000. Mackenzie Financial Corp boosted its stake in shares of Everus Construction Group by 26.0% in the fourth quarter. Mackenzie Financial Corp now owns 20,765 shares of the company's stock valued at $1,816,000 after purchasing an additional 4,285 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Everus Construction Group by 36.3% in the fourth quarter. NewEdge Advisors LLC now owns 28,554 shares of the company's stock valued at $2,443,000 after purchasing an additional 7,605 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ECG shares. Weiss Ratings reissued a "hold (c)" rating on shares of Everus Construction Group in a research report on Tuesday, April 21st. Wall Street Zen downgraded Everus Construction Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 7th. DA Davidson reiterated a "neutral" rating and set a $102.00 price objective on shares of Everus Construction Group in a research note on Wednesday, February 25th. Glj Research started coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They set a "hold" rating and a $141.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on shares of Everus Construction Group to $153.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Everus Construction Group has an average rating of "Hold" and an average target price of $126.33.

About Everus Construction Group

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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