MYR Group (NASDAQ:MYRG) Posts Earnings Results

MYR Group (NASDAQ:MYRG - Get Free Report) announced its quarterly earnings results on Wednesday. The utilities provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.02 by $0.10, Briefing.com reports. The business had revenue of $815.56 million for the quarter, compared to analyst estimates of $854.13 million. MYR Group had a return on equity of 14.80% and a net margin of 2.50%. MYR Group's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.38 EPS.

MYR Group Trading Down 7.8 %

NASDAQ MYRG traded down $12.83 on Thursday, reaching $151.99. The company had a trading volume of 434,263 shares, compared to its average volume of 136,216. The stock's 50 day moving average is $166.06 and its 200-day moving average is $146.51. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 28.04 and a beta of 1.10. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.05. MYR Group has a 52 week low of $110.87 and a 52 week high of $181.02.

Wall Street Analyst Weigh In

Several analysts recently commented on MYRG shares. Sidoti lowered MYR Group from a "buy" rating to a "neutral" rating and set a $165.00 price target on the stock. in a research note on Monday, February 26th. Robert W. Baird reduced their price objective on MYR Group from $185.00 to $180.00 and set an "outperform" rating on the stock in a research note on Thursday. Stifel Nicolaus reduced their price objective on MYR Group from $185.00 to $184.00 and set a "buy" rating on the stock in a research note on Tuesday, April 16th. Finally, KeyCorp began coverage on MYR Group in a research note on Wednesday, January 10th. They issued a "sector weight" rating on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $173.25.

MYR Group Company Profile

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.