MYR Group (MYRG) to Release 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. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.02 by $0.10. MYR Group had a return on equity of 13.64% and a net margin of 2.38%. The firm had revenue of $815.56 million during the quarter, compared to analysts’ expectations of $854.13 million. During the same period in the previous year, the business earned $1.38 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. 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 Stock Down 4.4 %

Shares of NASDAQ MYRG opened at $143.50 on Tuesday. MYR Group has a 12-month low of $110.87 and a 12-month high of $181.02. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.41 billion, a PE ratio of 27.81 and a beta of 0.99. The company has a 50-day moving average of $144.57 and a 200 day moving average of $153.68.

Analyst Ratings Changes

A number of research firms have commented on MYRG. Robert W. Baird reduced their target price on MYR Group from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus dropped their price objective on MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, MYR Group 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.