Wall Street analysts forecast that MYR Group, Inc. (NASDAQ:MYRG) will post sales of $311.98 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for MYR Group’s earnings. The highest sales estimate is $321.99 million and the lowest is $300.62 million. MYR Group posted sales of $261.93 million in the same quarter last year, which suggests a positive year over year growth rate of 19.1%. The company is scheduled to issue its next quarterly earnings results on Wednesday, August 2nd.

On average, analysts expect that MYR Group will report full-year sales of $311.98 million for the current year, with estimates ranging from $1.26 billion to $1.31 billion. For the next year, analysts expect that the company will post sales of $1.37 billion per share, with estimates ranging from $1.33 billion to $1.42 billion. Zacks’ sales averages are an average based on a survey of analysts that follow MYR Group.

MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, May 3rd. The utilities provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.22. MYR Group had a return on equity of 8.08% and a net margin of 1.74%. The business had revenue of $300.13 million for the quarter, compared to analyst estimates of $300.97 million.

Several research firms have recently weighed in on MYRG. TheStreet cut shares of MYR Group from a “b-” rating to a “c” rating in a research report on Tuesday, May 30th. Zacks Investment Research cut shares of MYR Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 17th. FBR & Co reiterated an “outperform” rating and set a $37.00 price objective (down from $45.00) on shares of MYR Group in a research report on Tuesday, May 16th. Finally, Robert W. Baird upgraded shares of MYR Group from a “neutral” rating to an “outperform” rating and set a $41.00 price objective for the company in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $37.80.

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MYR Group (NASDAQ:MYRG) traded down 0.87% during mid-day trading on Thursday, reaching $30.91. 9,356 shares of the company’s stock were exchanged. The firm has a market cap of $509.21 million, a price-to-earnings ratio of 24.93 and a beta of 0.35. The stock has a 50-day moving average of $30.07 and a 200-day moving average of $36.81. MYR Group has a 12 month low of $21.84 and a 12 month high of $43.77.

In related news, VP Gerald B. Jr. Engen sold 10,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the vice president now directly owns 68,295 shares of the company’s stock, valued at $2,048,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth Michael Hartwick bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were bought at an average cost of $29.78 per share, for a total transaction of $29,780.00. Following the completion of the purchase, the director now owns 2,625 shares of the company’s stock, valued at $78,172.50. The disclosure for this purchase can be found here. 5.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP raised its position in shares of MYR Group by 30.0% in the first quarter. First Trust Advisors LP now owns 202,580 shares of the utilities provider’s stock valued at $8,306,000 after buying an additional 46,772 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of MYR Group by 4.6% in the first quarter. Great West Life Assurance Co. Can now owns 22,086 shares of the utilities provider’s stock valued at $905,000 after buying an additional 967 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of MYR Group by 52.3% in the first quarter. Fisher Asset Management LLC now owns 73,100 shares of the utilities provider’s stock valued at $2,997,000 after buying an additional 25,094 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of MYR Group by 47.9% in the first quarter. Nationwide Fund Advisors now owns 50,964 shares of the utilities provider’s stock valued at $2,090,000 after buying an additional 16,495 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of MYR Group by 24.9% in the first quarter. Bank of Montreal Can now owns 59,468 shares of the utilities provider’s stock valued at $2,438,000 after buying an additional 11,847 shares in the last quarter. 88.74% of the stock is currently owned by institutional investors and hedge funds.

MYR Group Company Profile

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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