MYR Group Inc. (NASDAQ:MYRG – Get Free Report) has been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $147.75.
MYRG has been the subject of a number of recent research reports. Stifel Nicolaus cut their target price on shares of MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a report on Monday, August 5th. Robert W. Baird reduced their target price on shares of MYR Group from $170.00 to $143.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st.
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Institutional Investors Weigh In On MYR Group
MYR Group Stock Up 0.8 %
Shares of MYRG stock opened at $99.99 on Friday. The company’s fifty day simple moving average is $132.86 and its two-hundred day simple moving average is $150.73. MYR Group has a 52 week low of $92.48 and a 52 week high of $181.02. The stock has a market cap of $1.68 billion, a P/E ratio of 19.38 and a beta of 0.99. The company has a quick ratio of 1.40, a current ratio of 1.36 and a debt-to-equity ratio of 0.06.
MYR Group (NASDAQ:MYRG – Get Free Report) last posted its earnings results on Wednesday, July 31st. The utilities provider reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($1.98). The firm had revenue of $828.89 million during the quarter, compared to analysts’ expectations of $876.07 million. MYR Group had a return on equity of 7.65% and a net margin of 1.37%. MYR Group’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Analysts predict that MYR Group will post 5.4 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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