MYR Group Inc. (NASDAQ:MYRG – Get Free Report) has received an average rating of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $137.75.
A number of research firms recently commented on MYRG. Stifel Nicolaus cut their price objective on MYR Group from $172.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Robert W. Baird dropped their price target on shares of MYR Group from $170.00 to $143.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. StockNews.com lowered shares of MYR Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group decreased their price target on MYR Group from $182.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, September 19th.
Read Our Latest Stock Analysis on MYRG
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MYR Group Price Performance
MYRG stock opened at $102.75 on Friday. The company has a market capitalization of $1.72 billion, a P/E ratio of 19.91 and a beta of 0.93. The company has a fifty day moving average price of $106.35 and a 200-day moving average price of $137.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.36. MYR Group has a 52-week low of $86.60 and a 52-week high of $181.02.
MYR Group (NASDAQ:MYRG – Get Free Report) last announced its earnings results on Wednesday, July 31st. The utilities provider reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($1.98). MYR Group had a return on equity of 7.65% and a net margin of 1.37%. The company had revenue of $828.89 million for the quarter, compared to the consensus estimate of $876.07 million. During the same period in the prior year, the business earned $1.33 earnings per share. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, equities analysts expect that MYR Group will post 0.91 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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