MYR Group (MYRG) Set to Announce Earnings on Wednesday

MYR Group (NASDAQ:MYRG - Get Free Report) is set to release its earnings data after the market closes on Wednesday, May 1st. Analysts expect MYR Group to post earnings of $1.02 per share for the quarter. Individual interested in registering for the company's earnings conference call can do so using this link.

MYR Group (NASDAQ:MYRG - Get Free Report) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.02. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $904.76 million. MYR Group had a net margin of 2.50% and a return on equity of 14.80%. The business's revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period last year, the business posted $1.46 earnings per share. On average, analysts expect MYR Group to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

MYR Group Trading Up 0.1 %

MYRG stock traded up $0.22 during midday trading on Wednesday, hitting $164.60. 92,137 shares of the company's stock were exchanged, compared to its average volume of 132,970. MYR Group has a one year low of $110.87 and a one year high of $181.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $2.76 billion, a PE ratio of 30.37 and a beta of 1.08. The stock's fifty day moving average price is $164.69 and its 200-day moving average price is $145.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Sidoti cut MYR Group from a "buy" rating to a "neutral" rating and set a $165.00 price objective on the stock. in a research note on Monday, February 26th. Stifel Nicolaus dropped their target price on shares of MYR Group from $185.00 to $184.00 and set a "buy" rating on the stock in a report on Tuesday, April 16th. Finally, KeyCorp initiated coverage on MYR Group in a research report on Wednesday, January 10th. They issued a "sector weight" rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $170.75.

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.