Brokerages Anticipate MYR Group Inc (NASDAQ:MYRG) Will Post Earnings of $0.63 Per Share

Equities research analysts expect MYR Group Inc (NASDAQ:MYRG) to report $0.63 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for MYR Group’s earnings, with the highest EPS estimate coming in at $0.70 and the lowest estimate coming in at $0.52. MYR Group reported earnings per share of $0.48 during the same quarter last year, which would indicate a positive year over year growth rate of 31.3%. The company is expected to issue its next earnings report on Wednesday, October 30th.

On average, analysts expect that MYR Group will report full year earnings of $2.17 per share for the current year, with EPS estimates ranging from $1.93 to $2.39. For the next financial year, analysts expect that the business will post earnings of $2.76 per share, with EPS estimates ranging from $2.55 to $2.89. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow MYR Group.

MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.17). The firm had revenue of $448.80 million for the quarter, compared to analysts’ expectations of $445.20 million. MYR Group had a net margin of 1.88% and a return on equity of 10.15%. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS.



A number of analysts have issued reports on MYRG shares. B. Riley reduced their price target on shares of MYR Group from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus upgraded shares of MYR Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $32.00 to $39.00 in a report on Thursday, May 16th. BidaskClub downgraded shares of MYR Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. ValuEngine downgraded shares of MYR Group from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of MYR Group from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.00.

NASDAQ MYRG traded down $0.75 on Wednesday, reaching $28.00. The company had a trading volume of 73,435 shares, compared to its average volume of 63,833. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market cap of $472.60 million, a PE ratio of 14.97 and a beta of 0.78. The stock’s 50 day moving average is $34.97. MYR Group has a 12 month low of $26.24 and a 12 month high of $38.14.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of MYR Group by 6.7% during the second quarter. BlackRock Inc. now owns 2,681,268 shares of the utilities provider’s stock worth $100,145,000 after purchasing an additional 167,329 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of MYR Group by 84.4% in the second quarter. Wells Fargo & Company MN now owns 287,183 shares of the utilities provider’s stock valued at $10,726,000 after acquiring an additional 131,451 shares in the last quarter. Rothschild & Co. Asset Management US Inc. purchased a new position in shares of MYR Group in the second quarter valued at approximately $3,231,000. Invesco Ltd. lifted its position in shares of MYR Group by 38.1% in the second quarter. Invesco Ltd. now owns 286,474 shares of the utilities provider’s stock valued at $10,700,000 after acquiring an additional 79,032 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new position in shares of MYR Group in the first quarter valued at approximately $2,467,000. Hedge funds and other institutional investors own 91.17% of the company’s stock.

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.

Featured Story: Key terms to understand channel trading

Get a free copy of the Zacks research report on MYR Group (MYRG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MYR Group (NASDAQ:MYRG)

Receive News & Ratings for MYR Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MYR Group and related companies with MarketBeat.com's FREE daily email newsletter.