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

Brokerages predict that MYR Group Inc (NASDAQ:MYRG) will announce earnings of $0.33 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for MYR Group’s earnings, with the highest EPS estimate coming in at $0.34 and the lowest estimate coming in at $0.31. MYR Group posted earnings per share of $0.48 in the same quarter last year, which suggests a negative year over year growth rate of 31.3%. The business is expected 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 financial year, with EPS estimates ranging from $0.77 to $0.80. For the next fiscal year, analysts anticipate that the company will post earnings of $1.70 per share, with EPS estimates ranging from $1.36 to $1.91. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for MYR Group.

Several analysts have recently commented on the company. Zacks Investment Research raised MYR Group from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a report on Wednesday, January 3rd. TheStreet raised MYR Group from a “c+” rating to a “b-” rating in a report on Thursday, November 16th. BidaskClub cut MYR Group from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Robert W. Baird raised their price target on MYR Group from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Finally, B. Riley raised 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $34.83.

Institutional investors and hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System lifted its stake in MYR Group by 9.6% in the 3rd quarter. California Public Employees Retirement System now owns 42,954 shares of the utilities provider’s stock valued at $1,252,000 after purchasing an additional 3,754 shares during the last quarter. KBC Group NV lifted its stake in shares of MYR Group by 21.4% in the 3rd quarter. KBC Group NV now owns 38,940 shares of the utilities provider’s stock worth $1,135,000 after purchasing an additional 6,874 shares during the period. Macquarie Group Ltd. lifted its stake in shares of MYR Group by 14.2% in the 3rd quarter. Macquarie Group Ltd. now owns 864,492 shares of the utilities provider’s stock worth $25,191,000 after purchasing an additional 107,417 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of MYR Group by 335.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 28,300 shares of the utilities provider’s stock worth $825,000 after purchasing an additional 21,800 shares during the period. Finally, Western Standard LLC bought a new position in shares of MYR Group in the 3rd quarter worth approximately $393,000. 91.41% of the stock is owned by institutional investors and hedge funds.

MYR Group (NASDAQ:MYRG) traded down $0.22 during trading on Tuesday, hitting $33.25. 83,000 shares of the stock traded hands, compared to its average volume of 99,149. The firm has a market cap of $550.98, a price-to-earnings ratio of 35.75 and a beta of 0.41. MYR Group has a one year low of $23.00 and a one 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.

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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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