Equities analysts predict that MYR Group, Inc. (NASDAQ:MYRG) will post earnings per share of $0.33 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for MYR Group’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.34. MYR Group reported earnings per share of $0.48 in the same quarter last year, which indicates a negative year-over-year growth rate of 31.3%. The firm is scheduled to issue its next quarterly earnings results on Thursday, March 8th.

According to Zacks, analysts expect that MYR Group will report full-year earnings of $0.79 per share for the current financial year, with EPS estimates ranging from $0.77 to $0.80. For the next fiscal year, analysts forecast that the business will post earnings of $1.59 per share, with EPS estimates ranging from $1.36 to $1.80. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow MYR Group.

MYR Group (NASDAQ:MYRG) last issued 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 return on equity of 5.76% and a net margin of 1.12%. The company had revenue of $373.50 million during the quarter, compared to analysts’ expectations of $350.80 million. During the same period in the previous year, the company earned $0.38 EPS. MYR Group’s quarterly revenue was up 31.8% on a year-over-year basis.

A number of brokerages recently commented on MYRG. Robert W. Baird reissued a “buy” rating and issued a $34.00 price target on shares of MYR Group in a report on Tuesday, September 5th. KeyCorp reissued a “hold” rating on shares of MYR Group in a report on Friday, September 8th. TheStreet raised MYR Group from a “c+” rating to a “b-” rating in a report on Thursday, November 16th. FBR & Co reduced their price target on MYR Group from $37.00 to $28.00 and set a “market perform” rating for the company in a report on Friday, August 18th. Finally, B. Riley increased their price target on MYR Group from $28.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 16th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. MYR Group has an average rating of “Hold” and a consensus target price of $32.40.

A number of large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its holdings in MYR Group by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 8,559 shares of the utilities provider’s stock worth $266,000 after buying an additional 200 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in MYR Group by 3.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the utilities provider’s stock worth $208,000 after buying an additional 200 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in MYR Group by 4.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,424 shares of the utilities provider’s stock worth $168,000 after buying an additional 217 shares during the last quarter. Texas Permanent School Fund lifted its holdings in MYR Group by 3.4% during the 2nd quarter. Texas Permanent School Fund now owns 12,028 shares of the utilities provider’s stock worth $373,000 after buying an additional 397 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in MYR Group by 11.4% during the 2nd quarter. Royal Bank of Canada now owns 8,325 shares of the utilities provider’s stock worth $258,000 after buying an additional 852 shares during the last quarter. 87.20% of the stock is currently owned by institutional investors.

Shares of MYR Group (NASDAQ:MYRG) opened at $35.46 on Thursday. MYR Group has a 1 year low of $23.00 and a 1 year high of $43.77. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $575.35, a PE ratio of 37.58 and a beta of 0.47.

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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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