FY2017 Earnings Forecast for MYR Group, Inc. Issued By B. Riley (NASDAQ:MYRG)

MYR Group, Inc. (NASDAQ:MYRG) – Research analysts at B. Riley lowered their FY2017 earnings per share (EPS) estimates for MYR Group in a research note issued to investors on Thursday, Zacks Investment Research reports. B. Riley analyst A. Rygiel now expects that the utilities provider will earn $0.80 per share for the year, down from their prior forecast of $0.91. B. Riley currently has a “Neutral” rating and a $35.00 target price on the stock. B. Riley also issued estimates for MYR Group’s Q4 2017 earnings at $0.34 EPS and FY2018 earnings at $1.55 EPS.

Several other equities research analysts also recently issued reports on the stock. KeyCorp reaffirmed a “hold” rating on shares of MYR Group in a research note on Friday, November 24th. TheStreet raised shares of MYR Group from a “c+” rating to a “b-” rating in a research note on Thursday, November 16th. Zacks Investment Research raised shares of MYR Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Robert W. Baird boosted their target price on shares of MYR Group from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $29.00 target price (down previously from $36.00) on shares of MYR Group in a research report on Wednesday, September 6th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $32.40.

MYR Group (MYRG) traded up $0.17 during trading on Friday, reaching $35.36. 125,623 shares of the company traded hands, compared to its average volume of 100,835. MYR Group has a 12-month low of $23.00 and a 12-month high of $43.77. The stock has a market cap of $579.30, a P/E ratio of 37.84 and a beta of 0.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.84.

MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.17). MYR Group had a return on equity of 5.76% and a net margin of 1.12%. The firm had revenue of $373.50 million for the quarter, compared to analysts’ expectations of $350.80 million. During the same period last year, the firm earned $0.38 EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis.

Several large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its position in shares of MYR Group by 19.5% during the 3rd quarter. GSA Capital Partners LLP now owns 65,430 shares of the utilities provider’s stock valued at $1,907,000 after buying an additional 10,672 shares during the last quarter. California Public Employees Retirement System grew its position in shares of MYR Group by 9.6% during the 3rd quarter. California Public Employees Retirement System now owns 42,954 shares of the utilities provider’s stock valued at $1,252,000 after buying an additional 3,754 shares during the last quarter. Western Standard LLC bought a new stake in shares of MYR Group during the 3rd quarter valued at about $393,000. KBC Group NV grew its position in shares of MYR Group by 21.4% during the 3rd quarter. KBC Group NV now owns 38,940 shares of the utilities provider’s stock valued at $1,135,000 after buying an additional 6,874 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of MYR Group by 7.3% during the 3rd quarter. Wells Fargo & Company MN now owns 77,129 shares of the utilities provider’s stock valued at $2,247,000 after buying an additional 5,246 shares during the last quarter. 87.20% of the stock is owned by institutional investors and hedge funds.

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About MYR Group

MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.

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

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