MYR Group Inc (NASDAQ:MYRG) – Equities research analysts at B. Riley raised their FY2018 EPS estimates for MYR Group in a report issued on Thursday, Zacks Investment Research reports. B. Riley analyst A. Rygiel now expects that the utilities provider will earn $1.91 per share for the year, up from their prior forecast of $1.55. B. Riley has a “Neutral” rating and a $35.00 price target on the stock.
MYR Group (NASDAQ:MYRG) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates 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 earnings per share. MYR Group’s revenue for the quarter was up 31.8% on a year-over-year basis.
A number of other equities analysts also recently commented on the stock. TheStreet raised shares of MYR Group from a “c+” rating to a “b-” rating in a research note on Thursday, November 16th. BidaskClub cut shares of MYR Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. Robert W. Baird lifted their price target on shares of MYR Group from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of MYR Group from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a research report on Wednesday, January 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of MYR Group in a research report on Friday, November 24th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $34.83.
Shares of MYR Group (MYRG) traded up $0.50 during mid-day trading on Monday, reaching $35.06. 131,163 shares of the company’s stock were exchanged, compared to its average volume of 100,682. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. MYR Group has a one year low of $23.00 and a one year high of $43.77. The stock has a market capitalization of $588.85, a P/E ratio of 37.70 and a beta of 0.48.
Several hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in shares of MYR Group by 2.4% in the second quarter. Arizona State Retirement System now owns 8,559 shares of the utilities provider’s stock valued at $266,000 after purchasing an additional 200 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in MYR Group by 4.2% in the second quarter. BNP Paribas Arbitrage SA now owns 5,424 shares of the utilities provider’s stock worth $168,000 after acquiring an additional 217 shares during the last quarter. Royal Bank of Canada lifted its stake in MYR Group by 11.4% in the second quarter. Royal Bank of Canada now owns 8,325 shares of the utilities provider’s stock worth $258,000 after acquiring an additional 852 shares during the last quarter. Voya Investment Management LLC lifted its stake in MYR Group by 11.0% in the second quarter. Voya Investment Management LLC now owns 9,520 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 941 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in MYR Group by 0.9% in the second quarter. TIAA CREF Investment Management LLC now owns 174,415 shares of the utilities provider’s stock worth $5,410,000 after acquiring an additional 1,537 shares during the last quarter. Hedge funds and other institutional investors own 87.16% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “FY2018 EPS Estimates for MYR Group Inc (MYRG) Boosted by B. Riley” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/01/17/fy2018-eps-estimates-for-myr-group-inc-myrg-raised-by-analyst.html.
MYR Group Company Profile
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.
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
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.