$0.33 Earnings Per Share Expected for MYR Group Inc (MYRG) This Quarter

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.

Several brokerages recently commented on MYRG. B. Riley reissued a “neutral” rating on shares of MYR Group in a research note on Wednesday, November 1st. KeyCorp restated a “hold” rating on shares of MYR Group in a report on Friday, November 24th. Zacks Investment Research upgraded MYR Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 8th. Stifel Nicolaus restated a “hold” rating and issued a $36.00 target price on shares of MYR Group in a report on Tuesday, August 29th. Finally, BidaskClub lowered MYR Group from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.40.

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.

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

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