MYR Group Inc. (MYRG) Sets New 12-Month High at $29.17
MYR Group Inc. (NASDAQ:MYRG) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $29.17 and last traded at $29.04, with a volume of 123,545 shares traded. The stock had previously closed at $28.77.
Several research firms have recently commented on MYRG. Zacks Investment Research upgraded shares of MYR Group from a “sell” rating to a “hold” rating in a research note on Friday, July 15th. FBR & Co restated a “hold” rating on shares of MYR Group in a research note on Tuesday, May 10th. Canaccord Genuity restated a “buy” rating and issued a $32.00 target price on shares of MYR Group in a research note on Sunday, August 7th. Maxim Group raised their target price on shares of MYR Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, Robert W. Baird cut shares of MYR Group from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $27.00 to $30.00 in a research note on Friday, August 12th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $28.43.
The stock has a market capitalization of $465.86 million and a P/E ratio of 29.31. The company has a 50 day moving average of $25.95 and a 200-day moving average of $24.26.
MYR Group (NASDAQ:MYRG) last posted its earnings results on Wednesday, August 3rd. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $261.90 million for the quarter, compared to analyst estimates of $279.96 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. On average, equities analysts expect 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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