MYR Group Inc. (NASDAQ:MYRG – Get Free Report) shares gapped down before the market opened on Thursday after Robert W. Baird lowered their price target on the stock from $185.00 to $180.00. The stock had previously closed at $164.82, but opened at $149.79. Robert W. Baird currently has an outperform rating on the stock. MYR Group shares last traded at $154.52, with a volume of 95,086 shares traded.
MYRG has been the subject of several other reports. Stifel Nicolaus dropped their target price on MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. KeyCorp initiated coverage on shares of MYR Group in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Finally, Sidoti lowered shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 target price on the stock. in a report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.25.
View Our Latest Research Report on MYR Group
Institutional Investors Weigh In On MYR Group
MYR Group Stock Performance
The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 27.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s 50-day moving average is $165.89 and its 200-day moving average is $146.55.
MYR Group (NASDAQ:MYRG – Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. MYR Group had a net margin of 2.38% and a return on equity of 13.84%. The company had revenue of $815.56 million for the quarter, compared to the consensus estimate of $854.13 million. During the same quarter last year, the firm posted $1.38 earnings per share. MYR Group’s revenue was up .5% on a year-over-year basis. Analysts anticipate that MYR Group Inc. will post 6.64 EPS for the current fiscal 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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