Equities analysts predict that MYR Group, Inc. (NASDAQ:MYRG) will post sales of $380.41 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for MYR Group’s earnings. The highest sales estimate is $399.85 million and the lowest is $366.30 million. MYR Group posted sales of $343.66 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.7%. The firm is scheduled to announce its next earnings results on Thursday, March 8th.

According to Zacks, analysts expect that MYR Group will report full year sales of $380.41 million for the current year, with estimates ranging from $1.40 billion to $1.41 billion. For the next year, analysts anticipate that the company will post sales of $1.47 billion per share, with estimates ranging from $1.43 billion to $1.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for MYR Group.

MYR Group (NASDAQ:MYRG) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). The company had revenue of $373.50 million for the quarter, compared to the consensus estimate of $350.80 million. MYR Group had a return on equity of 5.76% and a net margin of 1.12%. The business’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share.

A number of research firms have recently issued reports on MYRG. KeyCorp restated a “hold” rating on shares of MYR Group in a report on Friday, November 24th. TheStreet upgraded MYR Group from a “c+” rating to a “b-” rating in a report on Thursday, November 16th. B. Riley increased their target price on MYR Group from $28.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 16th. Zacks Investment Research upgraded MYR Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Robert W. Baird increased their price objective on MYR Group from $34.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.40.

Large investors have recently modified their holdings of the company. State of Alaska Department of Revenue boosted its holdings in MYR Group by 82.6% during the second quarter. State of Alaska Department of Revenue now owns 3,232 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 1,462 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in 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 in the last quarter. Sei Investments Co. bought a new position in shares of MYR Group in the second quarter valued at approximately $170,000. Crossmark Global Holdings Inc. bought a new position in shares of MYR Group in the third quarter valued at approximately $207,000. Finally, Louisiana State Employees Retirement System raised its stake in shares of MYR Group by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the utilities provider’s stock valued at $208,000 after acquiring an additional 200 shares during the last quarter. 87.20% of the stock is currently owned by institutional investors.

MYR Group (NASDAQ MYRG) traded up $0.41 on Friday, hitting $36.04. The stock had a trading volume of 51,669 shares, compared to its average volume of 83,819. The stock has a market capitalization of $586.54, a price-to-earnings ratio of 38.31 and a beta of 0.47. MYR Group has a one year low of $23.00 and a one year high of $43.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.84.

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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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