Everus Construction Group (NYSE:ECG) Posts Earnings Results

Everus Construction Group (NYSE:ECG) issued its quarterly earnings data on Tuesday. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.33, Zacks reports. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $933.81 million. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.The business’s revenue was up 25.4% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share.

Everus Construction Group Trading Down 2.0%

NYSE:ECG traded down $3.43 on Wednesday, hitting $164.90. 723,450 shares of the stock were exchanged, compared to its average volume of 663,411. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 41.82 and a beta of 2.55. Everus Construction Group has a 52 week low of $44.97 and a 52 week high of $171.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.76. The company’s 50-day moving average price is $123.61 and its 200 day moving average price is $102.93.

Institutional Trading of Everus Construction Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Everus Construction Group by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. McMillan Office Inc. bought a new stake in Everus Construction Group during the 4th quarter worth about $43,000. Tower Research Capital LLC TRC raised its holdings in Everus Construction Group by 194.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,162 shares of the company’s stock worth $74,000 after purchasing an additional 768 shares during the last quarter. Larson Financial Group LLC raised its holdings in Everus Construction Group by 54.7% during the 3rd quarter. Larson Financial Group LLC now owns 930 shares of the company’s stock worth $80,000 after purchasing an additional 329 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Everus Construction Group during the 3rd quarter worth about $138,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Guggenheim raised Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Thursday, April 30th. Stifel Nicolaus lifted their price objective on Everus Construction Group to $153.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Everus Construction Group in a report on Tuesday, April 21st. Cantor Fitzgerald began coverage on Everus Construction Group in a report on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price target for the company. Finally, Wall Street Zen cut Everus Construction Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Everus Construction Group presently has an average rating of “Hold” and a consensus target price of $126.33.

About Everus Construction Group

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. Everus Construction Group is based in BISMARCK, N.D.