MYR Group (MYRG) Set to Announce Quarterly Earnings on Wednesday

MYR Group (NASDAQ:MYRG) is set to issue its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $1.02 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

MYR Group (NASDAQ:MYRG) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. MYR Group had a net margin of 2.50% and a return on equity of 14.80%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $904.76 million. During the same period in the prior year, the company posted $1.46 EPS. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, analysts expect MYR Group to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

MYR Group Price Performance

MYR Group stock opened at $170.70 on Tuesday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 31.49 and a beta of 1.08. The company’s fifty day moving average price is $165.65 and its 200 day moving average price is $146.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.37. MYR Group has a 1 year low of $110.87 and a 1 year high of $181.02.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MYRG. KeyCorp began coverage on MYR Group in a report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Sidoti cut MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price target for the company. in a research report on Monday, February 26th. Finally, Stifel Nicolaus decreased their price objective on MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $170.75.

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.