MYR Group Inc. (NASDAQ:MYRG – Get Free Report)’s stock price traded down 5.3% during trading on Friday after Robert W. Baird lowered their price target on the stock from $185.00 to $180.00. Robert W. Baird currently has an outperform rating on the stock. MYR Group traded as low as $143.21 and last traded at $143.88. 150,647 shares traded hands during trading, an increase of 11% from the average session volume of 136,256 shares. The stock had previously closed at $151.99.
A number of other research analysts have also weighed in on the stock. Stifel Nicolaus decreased their price target on shares of MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Sidoti lowered shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price target on the stock. in a research note on Monday, February 26th. Finally, KeyCorp started coverage on shares of MYR Group in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.25.
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MYR Group Price Performance
The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.40. The stock’s 50 day simple moving average is $165.49 and its two-hundred day simple moving average is $146.70. The firm has a market capitalization of $2.41 billion, a PE ratio of 27.89 and a beta of 1.10.
MYR Group (NASDAQ:MYRG – Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.02 by $0.10. The firm had revenue of $815.56 million for the quarter, compared to analyst estimates of $854.13 million. MYR Group had a net margin of 2.38% and a return on equity of 13.64%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 EPS. On average, sell-side analysts forecast that MYR Group Inc. will post 6.64 EPS for the current year.
About MYR Group
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.
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