MYR Group Inc. (NASDAQ:MYRG – Get Free Report) shares gapped down prior to trading on Thursday after Robert W. Baird lowered their price target on the stock from $185.00 to $180.00. The stock had previously closed at $164.82, but opened at $149.79. Robert W. Baird currently has an outperform rating on the stock. MYR Group shares last traded at $154.52, with a volume of 95,086 shares traded.
Other research analysts have also recently issued reports about the company. Sidoti cut MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price objective for the company. in a report on Monday, February 26th. KeyCorp began coverage on shares of MYR Group in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, Stifel Nicolaus decreased their price objective 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, MYR Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.25.
Read Our Latest Research Report on MYRG
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MYR Group Stock Performance
The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 27.89 and a beta of 1.10. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $165.89 and a 200-day simple moving average of $146.55.
MYR Group (NASDAQ:MYRG – Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.10. The business had revenue of $815.56 million for the quarter, compared to analyst estimates of $854.13 million. MYR Group had a return on equity of 13.84% and a net margin of 2.38%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 earnings per share. Analysts forecast that MYR Group Inc. will post 6.64 EPS for the current fiscal year.
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.
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