MYR Group Inc. (MYRG) Sets New 1-Year High at $29.17
Shares of MYR Group Inc. (NASDAQ:MYRG) reached a new 52-week high on Friday . The company traded as high as $29.17 and last traded at $29.04, with a volume of 123,545 shares. The stock had previously closed at $28.77.
A number of analysts have weighed in on MYRG shares. Canaccord Genuity reissued a “buy” rating and set a $32.00 price objective on shares of MYR Group in a report on Sunday, August 7th. Zacks Investment Research cut shares of MYR Group from a “buy” rating to a “hold” rating in a report on Saturday, May 7th. Maxim Group cut their price objective on shares of MYR Group from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, May 9th. FBR & Co reissued a “hold” rating on shares of MYR Group in a report on Tuesday, May 10th. Finally, Robert W. Baird cut shares of MYR Group from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $27.00 to $30.00 in a report on Friday, August 12th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. MYR Group currently has a consensus rating of “Hold” and an average price target of $28.43.
The stock has a market cap of $465.86 million and a P/E ratio of 29.31. The stock’s 50-day moving average is $25.95 and its 200 day moving average is $24.26.
MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.02. The business earned $261.90 million during the quarter, compared to analysts’ expectations of $279.96 million. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts anticipate that MYR Group Inc. will post $1.15 earnings per share for the current fiscal year.
MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). T&D customers include investor-owned utilities, cooperatives, private developers government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors.
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