FY2018 EPS Estimates for MYR Group Inc (MYRG) Lowered by KeyCorp

MYR Group Inc (NASDAQ:MYRG) – Research analysts at KeyCorp dropped their FY2018 earnings estimates for shares of MYR Group in a research report issued on Friday, November 2nd. KeyCorp analyst T. Afzal now anticipates that the utilities provider will post earnings of $1.70 per share for the year, down from their prior estimate of $1.80. KeyCorp also issued estimates for MYR Group’s Q4 2018 earnings at $0.46 EPS, FY2019 earnings at $2.16 EPS and FY2020 earnings at $2.80 EPS.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.06). The business had revenue of $399.50 million during the quarter, compared to the consensus estimate of $404.01 million. MYR Group had a net margin of 2.33% and a return on equity of 8.49%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus increased their price target on MYR Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, July 10th. Robert W. Baird reissued a “buy” rating and set a $39.00 price target on shares of MYR Group in a research report on Thursday, August 2nd. B. Riley dropped their price target on MYR Group from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 7th. BidaskClub downgraded MYR Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Finally, Zacks Investment Research downgraded MYR Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. MYR Group presently has an average rating of “Hold” and a consensus target price of $40.00.

Shares of MYR Group stock opened at $34.16 on Monday. The firm has a market capitalization of $548.62 million, a price-to-earnings ratio of 42.17 and a beta of 0.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.69 and a current ratio of 1.69. MYR Group has a 52 week low of $28.93 and a 52 week high of $40.81.

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of MYR Group during the 2nd quarter worth $150,000. Alambic Investment Management L.P. bought a new position in shares of MYR Group during the 2nd quarter worth $209,000. Legal & General Group Plc lifted its stake in shares of MYR Group by 6.9% during the 2nd quarter. Legal & General Group Plc now owns 32,582 shares of the utilities provider’s stock worth $1,151,000 after purchasing an additional 2,105 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of MYR Group by 7.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,288,018 shares of the utilities provider’s stock worth $45,673,000 after purchasing an additional 91,219 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of MYR Group by 17,225.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,064 shares of the utilities provider’s stock worth $215,000 after purchasing an additional 6,029 shares during the last quarter. 87.29% of the stock is currently owned by institutional investors and hedge funds.

MYR Group Company Profile

MYR Group Inc, through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The Transmission and Distribution segment offers a range of services on electric transmission and distribution networks, and substation facilities, including design, engineering, procurement, construction, upgrade, maintenance, and repair services with primary focus on construction, maintenance, and repair to customers in the electric utility and the renewable energy industries.

Featured Story: What does EPS mean?

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

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