$1.10 EPS Expected for MYR Group Inc. (NASDAQ:MYRG) This Quarter

Wall Street analysts predict that MYR Group Inc. (NASDAQ:MYRGGet Rating) will report $1.10 earnings per share for the current quarter, Zacks reports. Two analysts have provided estimates for MYR Group’s earnings, with the highest EPS estimate coming in at $1.14 and the lowest estimate coming in at $1.05. MYR Group reported earnings per share of $1.24 in the same quarter last year, which would suggest a negative year over year growth rate of 11.3%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that MYR Group will report full year earnings of $5.05 per share for the current year, with EPS estimates ranging from $4.92 to $5.18. For the next financial year, analysts forecast that the business will report earnings of $5.54 per share, with EPS estimates ranging from $5.47 to $5.60. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for MYR Group.

MYR Group (NASDAQ:MYRGGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The utilities provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.18. The company had revenue of $636.62 million for the quarter, compared to analysts’ expectations of $605.10 million. MYR Group had a net margin of 3.37% and a return on equity of 16.96%. During the same quarter in the previous year, the firm posted $1.17 earnings per share.

A number of research analysts have recently weighed in on MYRG shares. Stifel Nicolaus reduced their target price on shares of MYR Group from $126.00 to $101.00 in a research report on Wednesday, April 27th. StockNews.com lowered shares of MYR Group from a “strong-buy” rating to a “buy” rating in a report on Friday, May 6th. Finally, Zacks Investment Research raised shares of MYR Group from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Saturday, April 30th.

Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of MYR Group by 184.4% in the second quarter. Morgan Stanley now owns 118,408 shares of the utilities provider’s stock worth $10,766,000 after purchasing an additional 76,779 shares during the last quarter. SG Americas Securities LLC purchased a new position in MYR Group during the 3rd quarter worth approximately $121,000. Swiss National Bank grew its stake in shares of MYR Group by 0.5% during the 3rd quarter. Swiss National Bank now owns 37,100 shares of the utilities provider’s stock worth $3,691,000 after purchasing an additional 200 shares during the period. Barclays PLC grew its stake in shares of MYR Group by 35.8% during the 3rd quarter. Barclays PLC now owns 17,737 shares of the utilities provider’s stock worth $1,764,000 after purchasing an additional 4,673 shares during the period. Finally, Inspire Investing LLC acquired a new stake in MYR Group in the 3rd quarter valued at $230,000. 86.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MYRG traded up $0.84 on Tuesday, reaching $85.89. The company’s stock had a trading volume of 786 shares, compared to its average volume of 113,976. MYR Group has a twelve month low of $74.77 and a twelve month high of $121.22. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average of $90.59 and a 200-day moving average of $98.22. The stock has a market capitalization of $1.46 billion, a PE ratio of 17.15 and a beta of 1.16.

MYR Group Company Profile (Get Rating)

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.

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