MYR Group Receives Average Recommendation of “Hold” from Brokerages (NASDAQ:MYRG)
Shares of MYR Group (NASDAQ:MYRG) have earned a consensus recommendation of “Hold” from the seven brokerages that are covering the company, AmericanBankingNews.com reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $27.82.
MYRG has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of MYR Group from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $27.90 price target on the stock. Separately, analysts at FBR Capital Markets downgraded shares of MYR Group from an “outperform” rating to a “market perform” rating in a research note on Friday. They now have a $27.00 price target on the stock, down previously from $30.00. Finally, analysts at Robert W. Baird upgraded shares of MYR Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 5th. They now have a $30.00 price target on the stock, up previously from $27.00. They noted that the move was a valuation call.
Shares of MYR Group (NASDAQ:MYRG) opened at 23.21 on Wednesday. MYR Group has a 52-week low of $21.72 and a 52-week high of $27.30. The stock has a 50-day moving average of $25.2 and a 200-day moving average of $24.68. The company has a market cap of $495.1 million and a P/E ratio of 16.45.
MYR Group (NASDAQ:MYRG) last announced its earnings results on Wednesday, August 6th. The company reported $0.36 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.41 by $0.05. The company had revenue of $228.90 million for the quarter, compared to the consensus estimate of $228.90 million. During the same quarter last year, the company posted $0.44 earnings per share. MYR Group’s revenue was up 7.0% compared to the same quarter last year. Analysts expect that MYR Group will post $1.51 EPS for the current fiscal year.
MYR Group Inc (NASDAQ:MYRG) is a holding company.
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