MYR Group - MYRG Stock Forecast, Price & News

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, renewable power facilities, and limited gas construction services, as well as emergency restoration services in response to hurricane, ice, or other storm related damages. This segment serves as a prime contractor to customers, such as investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners, and other contractors. The Commercial and Industrial segment provides a range of services, including design, installation, maintenance, and repair of commercial and industrial wiring; and installation of traffic networks, bridge, roadway, and tunnel lighting for airports, hospitals, data centers, hotels, stadiums, convention centers, renewable energy projects, manufacturing plants, processing facilities, waste-water treatment facilities, mining facilities, and transportation control and management systems. This segment serves general contractors, commercial and industrial facility owners, governmental agencies, and developers. The company was founded in 1891 and is headquartered in Henderson, Colorado.

Analyst Ratings Changes

MYRG has been the subject of a number of recent analyst reports. StockNews.com raised MYR Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 6th. Stifel Nicolaus increased their price target on MYR Group from $101.00 to $110.00 in a research note on Tuesday, August 2nd.

MYR Group Price Performance

Shares of MYR Group stock opened at $98.11 on Wednesday. The stock has a 50 day moving average of $89.97 and a 200 day moving average of $90.66. MYR Group has a 12 month low of $74.77 and a 12 month high of $121.22. The firm has a market cap of $1.63 billion, a PE ratio of 19.98 and a beta of 1.10. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.11.

MYR Group (NASDAQ:MYRG - Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.05. The business had revenue of $708.11 million during the quarter, compared to analyst estimates of $681.15 million. MYR Group had a return on equity of 16.18% and a net margin of 3.24%. The company's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the company earned $1.24 EPS. On average, research analysts expect that MYR Group will post 4.9 EPS for the current fiscal year.

Insider Activity

In other news, COO Tod M. Cooper sold 3,877 shares of the firm's stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $97.02, for a total value of $376,146.54. Following the completion of the sale, the chief operating officer now directly owns 37,052 shares of the company's stock, valued at approximately $3,594,785.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.80% of the company's stock.