Everus Construction Group (NYSE:ECG) Shares Gap Up on Strong Earnings

Everus Construction Group, Inc. (NYSE:ECGGet Free Report) shares gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $104.21, but opened at $117.32. Everus Construction Group shares last traded at $127.2330, with a volume of 229,852 shares changing hands.

The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.72 by $0.36. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $879.57 million. Everus Construction Group had a net margin of 5.39% and a return on equity of 39.11%. Everus Construction Group’s revenue was up 33.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 EPS.

Trending Headlines about Everus Construction Group

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Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Zacks Research lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen lowered shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. DA Davidson reiterated a “neutral” rating and issued a $102.00 target price on shares of Everus Construction Group in a research note on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Everus Construction Group in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald began coverage on shares of Everus Construction Group in a report on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price target for the company. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $102.75.

View Our Latest Report on ECG

Hedge Funds Weigh In On Everus Construction Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D purchased a new stake in shares of Everus Construction Group in the second quarter valued at approximately $2,085,000. Bank of Montreal Can grew its stake in Everus Construction Group by 4.2% in the 2nd quarter. Bank of Montreal Can now owns 14,079 shares of the company’s stock valued at $894,000 after acquiring an additional 563 shares during the period. Gabelli Funds LLC increased its holdings in Everus Construction Group by 178.8% in the 2nd quarter. Gabelli Funds LLC now owns 94,437 shares of the company’s stock worth $6,000,000 after acquiring an additional 60,562 shares in the last quarter. Beacon Pointe Advisors LLC raised its position in Everus Construction Group by 6.2% during the second quarter. Beacon Pointe Advisors LLC now owns 163,121 shares of the company’s stock worth $10,363,000 after acquiring an additional 9,499 shares during the period. Finally, Frontier Capital Management Co. LLC raised its position in Everus Construction Group by 4.5% during the second quarter. Frontier Capital Management Co. LLC now owns 547,056 shares of the company’s stock worth $34,754,000 after acquiring an additional 23,716 shares during the period.

Everus Construction Group Trading Up 26.5%

The company’s fifty day simple moving average is $93.80 and its 200-day simple moving average is $88.11. The firm has a market capitalization of $6.73 billion, a PE ratio of 33.46 and a beta of 3.84. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.69.

About Everus Construction Group

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Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers. Everus Construction Group is based in BISMARCK, N.D.

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