$0.39 EPS Expected for MYR Group Inc (MYRG) This Quarter

Equities analysts predict that MYR Group Inc (NASDAQ:MYRG) will announce $0.39 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for MYR Group’s earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.35. MYR Group reported earnings of $0.29 per share in the same quarter last year, which indicates a positive year over year growth rate of 34.5%. The firm is expected to report its next earnings results on Wednesday, May 1st.

According to Zacks, analysts expect that MYR Group will report full-year earnings of $2.34 per share for the current year, with EPS estimates ranging from $2.25 to $2.38. For the next year, analysts anticipate that the business will report earnings of $2.76 per share, with EPS estimates ranging from $2.65 to $2.89. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for MYR Group.

MYR Group (NASDAQ:MYRG) last posted its earnings results on Wednesday, March 6th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. MYR Group had a net margin of 2.03% and a return on equity of 9.81%. The company had revenue of $446.30 million during the quarter, compared to analysts’ expectations of $394.98 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. MYR Group’s quarterly revenue was up 19.5% compared to the same quarter last year.

MYRG has been the subject of a number of research analyst reports. BidaskClub cut shares of MYR Group from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Zacks Investment Research upgraded shares of MYR Group from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Saturday, March 9th. Nomura upgraded shares of MYR Group to a “buy” rating in a research note on Tuesday, December 11th. Finally, Robert W. Baird set a $34.00 target price on shares of MYR Group and gave the company a “hold” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $38.25.

In related news, SVP Gerald B. Jr. Engen sold 2,877 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.52, for a total value of $105,068.04. Following the completion of the transaction, the senior vice president now owns 48,736 shares in the company, valued at approximately $1,779,838.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William A. Koertner sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $35.04, for a total transaction of $91,314.24. Following the completion of the transaction, the director now owns 303,544 shares of the company’s stock, valued at approximately $10,636,181.76. The disclosure for this sale can be found here. Insiders sold a total of 16,042 shares of company stock valued at $568,546 in the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in MYR Group by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 181,179 shares of the utilities provider’s stock worth $5,103,000 after purchasing an additional 9,258 shares during the last quarter. Millennium Management LLC grew its holdings in MYR Group by 37.8% during the 4th quarter. Millennium Management LLC now owns 22,797 shares of the utilities provider’s stock worth $642,000 after acquiring an additional 6,257 shares during the period. Macquarie Group Ltd. grew its holdings in MYR Group by 7.4% during the 4th quarter. Macquarie Group Ltd. now owns 1,370,678 shares of the utilities provider’s stock worth $38,612,000 after acquiring an additional 94,156 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in MYR Group during the 4th quarter worth $1,098,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in MYR Group by 472.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,850 shares of the utilities provider’s stock worth $165,000 after acquiring an additional 4,828 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Shares of NASDAQ:MYRG traded down $0.16 during trading on Friday, reaching $34.63. The stock had a trading volume of 144,261 shares, compared to its average volume of 110,701. MYR Group has a 52 week low of $26.24 and a 52 week high of $40.81. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $574.86 million, a P/E ratio of 18.52 and a beta of 0.63.

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 and the renewable energy industries.

See Also: The basics of gap trading strategies

Get a free copy of the Zacks research report on MYR Group (MYRG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for MYR Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MYR Group and related companies with MarketBeat.com's FREE daily email newsletter.