Brokerages forecast that MYR Group Inc (NASDAQ:MYRG) will report earnings of $0.33 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for MYR Group’s earnings. The lowest EPS estimate is $0.31 and the highest is $0.34. MYR Group reported earnings of $0.48 per share in the same quarter last year, which indicates a negative year over year growth rate of 31.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, March 8th.
On average, 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 year, analysts forecast that the business will report earnings of $1.61 per share, with EPS estimates ranging from $1.36 to $1.82. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover MYR Group.
MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, November 1st. The utilities provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.17). MYR Group had a net margin of 1.12% and a return on equity of 5.76%. The business 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 company’s revenue was up 31.8% compared to the same quarter last year.
Shares of MYR Group (NASDAQ MYRG) traded up $0.13 during midday trading on Friday, hitting $35.90. The company had a trading volume of 40,992 shares, compared to its average volume of 100,997. The company has a market cap of $586.05, a PE ratio of 38.19 and a beta of 0.47. MYR Group has a 1-year low of $23.00 and a 1-year high of $43.77. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30.
Several hedge funds have recently modified their holdings of MYRG. BNP Paribas Arbitrage SA increased its position in shares of MYR Group by 4.2% during the second quarter. BNP Paribas Arbitrage SA now owns 5,424 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 217 shares during the period. Sei Investments Co. bought a new stake in shares of MYR Group during the second quarter valued at approximately $170,000. Crossmark Global Holdings Inc. bought a new stake in shares of MYR Group during the third quarter valued at approximately $207,000. Municipal Employees Retirement System of Michigan increased its position in shares of MYR Group by 40.0% during the third quarter. Municipal Employees Retirement System of Michigan now owns 8,020 shares of the utilities provider’s stock valued at $234,000 after purchasing an additional 2,290 shares during the period. Finally, Royal Bank of Canada increased its position in shares of MYR Group by 11.4% during the second quarter. Royal Bank of Canada now owns 8,325 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 852 shares during the period. Institutional investors own 87.16% of the company’s stock.
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.
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.