Brokerages predict that MYR Group Inc (NASDAQ:MYRG) will report earnings per share (EPS) of $0.53 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for MYR Group’s earnings. The lowest EPS estimate is $0.46 and the highest is $0.61. MYR Group posted earnings of $0.35 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 51.4%. The company is expected to issue its next quarterly earnings results on Wednesday, March 6th.

On average, analysts expect that MYR Group will report full-year earnings of $1.75 per share for the current year, with EPS estimates ranging from $1.70 to $1.79. For the next year, analysts anticipate that the business will report earnings of $2.28 per share, with EPS estimates ranging from $2.15 to $2.58. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow MYR Group.

MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, October 31st. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.06). The business had revenue of $399.50 million for the quarter, compared to the consensus estimate of $404.01 million. MYR Group had a net margin of 2.33% and a return on equity of 8.49%. MYR Group’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS.

Several equities analysts have recently issued reports on the stock. Robert W. Baird downgraded shares of MYR Group from an “outperform” rating to a “neutral” rating in a research note on Friday, August 3rd. B. Riley dropped their price target on shares of MYR Group from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, August 7th. Zacks Investment Research downgraded shares of MYR Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. BidaskClub raised shares of MYR Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Citigroup downgraded shares of MYR Group to a “sell” rating in a research note on Monday, November 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $40.00.

Shares of MYRG stock traded down $1.32 during trading hours on Monday, hitting $32.55. 65,633 shares of the company’s stock traded hands, compared to its average volume of 66,022. The company has a market capitalization of $566.35 million, a P/E ratio of 40.19 and a beta of 0.35. MYR Group has a 12 month low of $28.93 and a 12 month high of $40.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.69 and a current ratio of 1.69.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in MYR Group by 5.7% in the third quarter. BlackRock Inc. now owns 2,523,177 shares of the utilities provider’s stock worth $82,356,000 after purchasing an additional 135,338 shares during the period. Thomson Horstmann & Bryant Inc. grew its holdings in MYR Group by 0.9% in the third quarter. Thomson Horstmann & Bryant Inc. now owns 312,711 shares of the utilities provider’s stock worth $10,206,000 after purchasing an additional 2,795 shares during the period. Third Avenue Management LLC grew its holdings in MYR Group by 5.6% in the third quarter. Third Avenue Management LLC now owns 299,535 shares of the utilities provider’s stock worth $9,777,000 after purchasing an additional 15,987 shares during the period. Bank of New York Mellon Corp grew its holdings in MYR Group by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 183,119 shares of the utilities provider’s stock worth $5,976,000 after purchasing an additional 3,952 shares during the period. Finally, ClariVest Asset Management LLC acquired a new stake in MYR Group in the third quarter worth $567,000. 87.29% of the stock is owned by hedge funds and other institutional investors.

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 and the renewable energy industries.

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Earnings History and Estimates for MYR Group (NASDAQ:MYRG)

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