MYR Group (MYRG) Set to Announce Earnings on Wednesday

MYR Group (NASDAQ:MYRG) is set to issue its quarterly earnings data after the market closes on Wednesday, July 31st. Analysts expect the company to announce earnings of $1.07 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.64% and a net margin of 2.38%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.38 EPS. On average, analysts expect MYR Group to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

MYR Group Trading Down 4.4 %

Shares of MYR Group stock opened at $143.50 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.05. MYR Group has a 12-month low of $110.87 and a 12-month high of $181.02. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 27.81 and a beta of 0.99. The firm’s 50-day moving average price is $144.57 and its two-hundred day moving average price is $153.68.

Analyst Ratings Changes

A number of research firms have recently weighed in on MYRG. Stifel Nicolaus reduced 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. Robert W. Baird cut their target price on shares of MYR Group from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.25.

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.