KeyCorp Estimates MYR Group's FY2025 Earnings (NASDAQ:MYRG)

Key Points

• KeyCorp has revised down its FY2025 earnings per share estimate for MYR Group to $7.01, from a previous estimate of $7.10.
• MYR Group reported a quarterly earnings that exceeded expectations, with an EPS of $1.70 compared to a consensus estimate of $1.56, alongside a revenue of $900.33 million.
• A consensus price target for MYR Group's stock is currently set at $191.83, with analysts maintaining a "Hold" rating on the shares.

MYR Group, Inc. (NASDAQ:MYRG - Free Report) - Investment analysts at KeyCorp lowered their FY2025 earnings per share (EPS) estimates for shares of MYR Group in a research report issued on Tuesday, September 30th. KeyCorp analyst S. Jain now anticipates that the utilities provider will earn $7.01 per share for the year, down from their previous forecast of $7.10. KeyCorp has a "Sector Weight" rating on the stock. The consensus estimate for MYR Group's current full-year earnings is $1.16 per share. KeyCorp also issued estimates for MYR Group's FY2026 earnings at $8.45 EPS.

MYR Group (NASDAQ:MYRG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.14. The business had revenue of $900.33 million for the quarter, compared to analyst estimates of $828.20 million. MYR Group had a return on equity of 13.16% and a net margin of 2.21%.The company's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.91) earnings per share.

A number of other research analysts have also weighed in on the company. The Goldman Sachs Group increased their price objective on MYR Group from $168.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Jefferies Financial Group initiated coverage on MYR Group in a report on Friday, August 15th. They issued a "hold" rating and a $202.00 price objective on the stock. Finally, Stifel Nicolaus set a $210.00 price objective on MYR Group in a report on Monday, August 4th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, MYR Group has an average rating of "Hold" and a consensus price target of $191.83.

MYR Group Stock Down 2.9%

Shares of MYRG stock opened at $202.00 on Thursday. The stock's 50-day simple moving average is $186.95 and its 200-day simple moving average is $163.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $3.14 billion, a PE ratio of 42.17 and a beta of 1.19. MYR Group has a fifty-two week low of $97.72 and a fifty-two week high of $220.01.

Hedge Funds Weigh In On MYR Group

Hedge funds have recently bought and sold shares of the business. Maseco LLP purchased a new position in MYR Group during the second quarter worth approximately $28,000. Quarry LP boosted its position in MYR Group by 190.4% during the first quarter. Quarry LP now owns 273 shares of the utilities provider's stock worth $31,000 after purchasing an additional 179 shares in the last quarter. MAI Capital Management boosted its position in MYR Group by 44.8% during the second quarter. MAI Capital Management now owns 181 shares of the utilities provider's stock worth $33,000 after purchasing an additional 56 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in MYR Group during the second quarter worth approximately $34,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in MYR Group during the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 88.90% of the company's stock.

About MYR Group

MYR Group Inc, through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The Transmission and Distribution segment offers a range of services on electric transmission and distribution networks, and substation facilities, including design, engineering, procurement, construction, upgrade, maintenance, and repair services with primary focus on construction, maintenance, and repair to customers in the electric utility industry; and services, including construction and maintenance of high voltage transmission lines, substations, and lower voltage underground and overhead distribution systems, clean energy projects, and electric vehicle charging infrastructure services, as well as emergency restoration services in response to hurricane, wildfire, ice, or other related damages.

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