MYR Group (MYRG) Posts Quarterly Results
MYR Group (NASDAQ: MYRG) announced its earnings results on Wednesday. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $247.80 million for the quarter, compared to the consensus estimate of $259.01 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis.
On the ratings front, analysts at Johnson Rice downgraded shares of MYR Group from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, December 13th.
Seven research analysts have rated the stock with a buy rating, and two have given a hold rating to the company. MYR Group has a consensus rating of “buy” and a consensus price target of $26.67.
Shares of MYR Group (MYRG) traded up 1.61% during mid-day trading on Wednesday, hitting $24.00. MYR Group (MYRG) has a one year low of $13.94 and a one year high of $24.82. The stock’s 50-day moving average is currently $22.83. The company has a market cap of $496.1 million and a P/E ratio of 16.52.
MYR Group Inc. is a specialty contractor serving the electrical infrastructure market in the United States.
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