MYR Group (MYRG) Set to Announce Earnings on Wednesday

MYR Group (NASDAQ:MYRG) is scheduled to be releasing its earnings data after the market closes on Wednesday, May 1st. Analysts expect MYR Group to post earnings of $1.02 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, February 28th. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $904.76 million. MYR Group had a net margin of 2.50% and a return on equity of 14.80%. The company’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 EPS. On average, analysts expect MYR Group to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

MYR Group Price Performance

MYRG opened at $164.38 on Wednesday. The company has a 50-day moving average of $164.69 and a 200-day moving average of $145.11. The company has a market capitalization of $2.75 billion, a P/E ratio of 30.33 and a beta of 1.08. MYR Group has a 1-year low of $110.87 and a 1-year high of $181.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.37.

Analyst Ratings Changes

A number of brokerages recently weighed in on MYRG. Sidoti downgraded shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price objective for the company. in a research report on Monday, February 26th. KeyCorp began coverage on shares of MYR Group in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, Stifel Nicolaus lowered their price objective on shares of MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, MYR Group has an average rating of “Hold” and an average price target of $170.75.

MYR Group Company Profile

MYR Group Inc, through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The Transmission and Distribution segment offers a range of services on electric transmission and distribution networks, and substation facilities, including design, engineering, procurement, construction, upgrade, maintenance, and repair services with primary focus on construction, maintenance, and repair to customers in the electric utility industry; and services, including construction and maintenance of high voltage transmission lines, substations, and lower voltage underground and overhead distribution systems, clean energy projects, and electric vehicle charging infrastructure services, as well as emergency restoration services in response to hurricane, wildfire, ice, or other related damages.