Zacks: Brokerages Anticipate MYR Group Inc (MYRG) to Announce $0.33 Earnings Per Share

Wall Street analysts expect MYR Group Inc (NASDAQ:MYRG) to post earnings per share (EPS) of $0.33 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for MYR Group’s earnings. The lowest EPS estimate is $0.31 and the highest is $0.34. MYR Group reported earnings per share of $0.48 during the same quarter last year, which would suggest a negative year over year growth rate of 31.3%. The company is scheduled to announce its next quarterly earnings results on Thursday, March 8th.

According to Zacks, analysts expect that MYR Group will report full-year earnings of $0.79 per share for the current fiscal year, with EPS estimates ranging from $0.77 to $0.80. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.70 per share, with EPS estimates ranging from $1.36 to $1.91. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for MYR Group.

Several research firms recently issued reports on MYRG. B. Riley reaffirmed a “neutral” rating on shares of MYR Group in a report on Wednesday, November 1st. KeyCorp reaffirmed a “hold” rating on shares of MYR Group in a report on Friday, November 24th. ValuEngine downgraded shares of MYR Group from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of MYR Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, BidaskClub downgraded shares of MYR Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. MYR Group currently has a consensus rating of “Hold” and an average target price of $34.83.

Institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas bought a new stake in MYR Group during the fourth quarter worth about $201,000. Leucadia National Corp acquired a new position in shares of MYR Group in the fourth quarter valued at approximately $225,000. Raymond James & Associates acquired a new position in shares of MYR Group in the fourth quarter valued at approximately $236,000. MetLife Investment Advisors LLC acquired a new position in shares of MYR Group in the fourth quarter valued at approximately $246,000. Finally, Louisiana State Employees Retirement System acquired a new position in shares of MYR Group in the fourth quarter valued at approximately $254,000. 91.41% of the stock is owned by hedge funds and other institutional investors.

MYR Group (NASDAQ MYRG) traded up $0.03 during midday trading on Tuesday, hitting $33.89. 51,500 shares of the company traded hands, compared to its average volume of 97,086. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30. The company has a market cap of $557.40, a P/E ratio of 36.44 and a beta of 0.41. MYR Group has a fifty-two week low of $23.00 and a fifty-two week high of $43.77.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/02/16/zacks-brokerages-anticipate-myr-group-inc-myrg-to-announce-0-33-earnings-per-share.html.

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.

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.

Leave a Reply