Everus Construction Group (NYSE:ECG) Issues Earnings Results

Everus Construction Group (NYSE:ECG) released its earnings results on Tuesday. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.48, FiscalAI reports. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.19 billion.

Everus Construction Group Stock Up 9.8%

NYSE ECG traded up $10.07 on Tuesday, hitting $113.06. 2,029,190 shares of the stock were exchanged, compared to its average volume of 616,349. Everus Construction Group has a fifty-two week low of $78.14 and a fifty-two week high of $171.58. The company has a 50-day moving average price of $114.27 and a 200-day moving average price of $125.30. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34. The company has a market cap of $5.77 billion, a PE ratio of 22.75 and a beta of 2.36.

Insiders Place Their Bets

In related news, VP Paul R. Sanderson sold 3,300 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $136.69, for a total value of $451,077.00. Following the transaction, the vice president owned 18,950 shares of the company’s stock, valued at $2,590,275.50. This represents a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David M. Sparby purchased 1,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was acquired at an average price of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the purchase, the director owned 19,658 shares of the company’s stock, valued at $2,849,427.10. This represents a 5.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ECG shares. Guggenheim boosted their price target on shares of Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Cantor Fitzgerald decreased their target price on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. DA Davidson initiated coverage on Everus Construction Group in a research note on Friday, August 21st. They set a “buy” rating and a $168.00 target price for the company. Finally, Oppenheimer restated an “outperform” rating and set a $200.00 price target on shares of Everus Construction Group in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $169.50.

About Everus Construction Group

Everus Construction Group, Inc (NYSE: ECG) is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.