MYR Group (MYRG) Set to Announce Earnings on Wednesday

MYR Group (NASDAQ:MYRG) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $1.02 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $904.76 million. MYR Group had a net margin of 2.50% and a return on equity of 14.80%. MYR Group’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 EPS. On average, analysts expect MYR Group to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

MYR Group Price Performance

NASDAQ MYRG opened at $164.38 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $164.69 and a 200 day simple moving average of $145.11. The company has a market cap of $2.75 billion, a P/E ratio of 30.33 and a beta of 1.08. MYR Group has a 1 year low of $110.87 and a 1 year high of $181.02.

Wall Street Analysts Forecast Growth

MYRG has been the subject of several recent analyst reports. KeyCorp initiated coverage on shares of MYR Group in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Stifel Nicolaus decreased their price target on shares of MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Finally, Sidoti lowered shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price target on the stock. in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $170.75.

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; 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.