Everus Construction Group (NYSE:ECG) Reaches New 52-Week High on Better-Than-Expected Earnings

Key Points

• Everus Construction Group (NYSE:ECG) achieved a new 52-week high of $90.03 after reporting better-than-expected earnings, with an EPS of $1.03 compared to the consensus estimate of $0.61.
• The company's quarterly revenue was $921.47 million, significantly exceeding expectations of $749.12 million, marking a year-over-year increase of 31.0%.
• Analysts have set new price targets for Everus, with recommendations ranging from "hold" to "buy," resulting in an average target price of $73.67.

Everus Construction Group, Inc. (NYSE:ECG - Get Free Report)'s stock price hit a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $90.03 and last traded at $83.37, with a volume of 37751 shares changing hands. The stock had previously closed at $75.80.

The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.42. Everus Construction Group had a return on equity of 33.27% and a net margin of 4.98%. The firm had revenue of $921.47 million for the quarter, compared to the consensus estimate of $749.12 million. The business's quarterly revenue was up 31.0% compared to the same quarter last year.

Analysts Set New Price Targets

Several brokerages have recently commented on ECG. DA Davidson lifted their target price on Everus Construction Group from $58.00 to $68.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Oppenheimer lifted their price objective on shares of Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Stifel Nicolaus upped their price objective on shares of Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Wall Street Zen cut shares of Everus Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $73.67.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Tompkins Financial Corp acquired a new position in Everus Construction Group in the first quarter valued at approximately $25,000. GAMMA Investing LLC boosted its stake in Everus Construction Group by 295.6% during the 1st quarter. GAMMA Investing LLC now owns 720 shares of the company's stock valued at $27,000 after purchasing an additional 538 shares during the last quarter. Signaturefd LLC raised its position in Everus Construction Group by 91.6% in the 2nd quarter. Signaturefd LLC now owns 435 shares of the company's stock valued at $28,000 after buying an additional 208 shares during the last quarter. Concord Wealth Partners purchased a new position in Everus Construction Group during the first quarter worth about $31,000. Finally, Country Trust Bank purchased a new stake in shares of Everus Construction Group during the second quarter valued at approximately $31,000.

Everus Construction Group Trading Up 14.9%

The stock's fifty day moving average is $66.23 and its two-hundred day moving average is $53.87. The company has a quick ratio of 1.69, a current ratio of 1.78 and a debt-to-equity ratio of 0.60.

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.

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