MYR Group (NASDAQ:MYRG) Posts Earnings Results

MYR Group (NASDAQ:MYRG) released its quarterly earnings results on Wednesday. The utilities provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.40, Briefing.com reports. MYR Group had a return on equity of 5.91% and a net margin of 1.08%. The firm had revenue of $888.00 million for the quarter, compared to analyst estimates of $917.18 million. During the same quarter in the previous year, the company posted $1.28 EPS. The business’s revenue was down 5.5% on a year-over-year basis.

MYR Group Stock Down 0.9 %

NASDAQ:MYRG traded down $1.18 on Friday, hitting $129.82. The stock had a trading volume of 164,205 shares, compared to its average volume of 175,090. The business’s fifty day moving average is $105.57 and its 200 day moving average is $128.97. The company has a market cap of $2.14 billion, a PE ratio of 57.21 and a beta of 0.93. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06. MYR Group has a 52 week low of $86.60 and a 52 week high of $181.02.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Stifel Nicolaus cut their target price on MYR Group from $172.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. The Goldman Sachs Group cut their target price on MYR Group from $182.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. StockNews.com lowered MYR Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 18th. Finally, Robert W. Baird upped their target price on MYR Group from $131.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $136.50.

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.