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.
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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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