Research Analysts Issue Forecasts for MYR Group Q1 Earnings

MYR Group Inc. (NASDAQ:MYRG) – Investment analysts at KeyCorp issued their Q1 2025 EPS estimates for MYR Group in a note issued to investors on Thursday, March 13th. KeyCorp analyst S. Jain expects that the utilities provider will earn $1.14 per share for the quarter. KeyCorp currently has a “Overweight” rating and a $136.00 target price on the stock. The consensus estimate for MYR Group’s current full-year earnings is $1.16 per share.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus upped their price target on MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird lowered their price objective on MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.00.

MYR Group Stock Up 2.8 %

Shares of NASDAQ MYRG opened at $120.50 on Monday. The stock has a market cap of $1.94 billion, a PE ratio of 52.62 and a beta of 0.93. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. MYR Group has a 12-month low of $86.60 and a 12-month high of $181.02. The company has a 50-day moving average of $134.60 and a 200 day moving average of $131.90.

Institutional Trading of MYR Group

Several hedge funds have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D grew its position in MYR Group by 66.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 19,161 shares of the utilities provider’s stock worth $1,959,000 after acquiring an additional 7,655 shares during the period. Quest Partners LLC purchased a new position in shares of MYR Group during the 3rd quarter worth $223,000. Advisors Asset Management Inc. grew its holdings in shares of MYR Group by 4.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 22,250 shares of the utilities provider’s stock worth $2,275,000 after purchasing an additional 1,049 shares during the period. Intech Investment Management LLC increased its position in shares of MYR Group by 153.5% during the 3rd quarter. Intech Investment Management LLC now owns 10,378 shares of the utilities provider’s stock worth $1,061,000 after purchasing an additional 6,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in MYR Group by 8.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 233,055 shares of the utilities provider’s stock valued at $23,825,000 after buying an additional 17,580 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.