Analysts Expect MYR Group, Inc. (MYRG) Will Post Earnings of $0.33 Per Share
Equities research analysts expect MYR Group, Inc. (NASDAQ:MYRG) to announce earnings of $0.33 per share for the current quarter, according to Zacks. Four analysts have provided estimates for MYR Group’s earnings. The lowest EPS estimate is $0.31 and the highest is $0.34. MYR Group reported earnings of $0.48 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 31.3%. The business is expected to issue its next quarterly earnings results on Thursday, March 8th.
On average, analysts expect that MYR Group will report full-year earnings of $0.79 per share for the current year, with EPS estimates ranging from $0.77 to $0.80. For the next year, analysts expect that the company will post earnings of $1.60 per share, with EPS estimates ranging from $1.36 to $1.82. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow MYR Group.
MYR Group (NASDAQ:MYRG) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.17). The company had revenue of $373.50 million during the quarter, compared to analysts’ expectations of $350.80 million. MYR Group had a return on equity of 5.76% and a net margin of 1.12%. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS.
Several research analysts have recently commented on MYRG shares. FBR & Co decreased their price objective on MYR Group from $37.00 to $28.00 and set a “market perform” rating on the stock in a report on Friday, August 18th. Stifel Nicolaus reiterated a “hold” rating and issued a $36.00 price objective on shares of MYR Group in a report on Tuesday, August 29th. Robert W. Baird reiterated a “buy” rating and issued a $34.00 price objective on shares of MYR Group in a report on Tuesday, September 5th. KeyCorp reiterated a “hold” rating on shares of MYR Group in a report on Friday, September 8th. Finally, Zacks Investment Research upgraded MYR Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 8th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $32.40.
A number of large investors have recently made changes to their positions in MYRG. State of Alaska Department of Revenue increased its holdings in MYR Group by 82.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,232 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 1,462 shares during the period. BNP Paribas Arbitrage SA increased its holdings in MYR Group by 4.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,424 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 217 shares during the period. Sei Investments Co. purchased a new position in MYR Group during the 2nd quarter valued at about $170,000. Crossmark Global Holdings Inc. purchased a new position in MYR Group during the 3rd quarter valued at about $207,000. Finally, Louisiana State Employees Retirement System increased its holdings in MYR Group by 3.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the utilities provider’s stock valued at $208,000 after purchasing an additional 200 shares during the period. Institutional investors own 87.20% of the company’s stock.
MYR Group (NASDAQ:MYRG) traded up $0.41 on Thursday, hitting $36.04. The stock had a trading volume of 51,721 shares, compared to its average volume of 83,819. The stock has a market capitalization of $593.29, a P/E ratio of 38.75 and a beta of 0.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.84 and a current ratio of 1.84. MYR Group has a 1 year low of $23.00 and a 1 year high of $43.77.
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About MYR Group
MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.
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