Everus Construction Group (NYSE:ECG) Releases Earnings Results, Beats Estimates By $0.50 EPS

Everus Construction Group (NYSE:ECG) issued its quarterly earnings data on Tuesday. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.50, FiscalAI reports. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.

Everus Construction Group Stock Up 2.5%

ECG traded up $3.38 on Tuesday, hitting $136.00. 967,024 shares of the company were exchanged, compared to its average volume of 648,700. The firm has a 50-day moving average price of $143.75 and a two-hundred day moving average price of $128.33. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38. Everus Construction Group has a twelve month low of $69.61 and a twelve month high of $171.58. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 31.19 and a beta of 2.23.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ECG shares. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a research report on Friday, May 8th. Glj Research assumed coverage on shares of Everus Construction Group in a research report on Monday, April 20th. They set a “hold” rating and a $141.00 price target for the company. Zacks Research cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Guggenheim raised shares of Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $155.67.

Hedge Funds Weigh In On Everus Construction Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cibc World Market Inc. acquired a new position in Everus Construction Group in the fourth quarter valued at approximately $282,000. Integrated Investment Consultants LLC purchased a new position in Everus Construction Group in the third quarter valued at approximately $268,000. Utah Retirement Systems acquired a new stake in Everus Construction Group during the third quarter worth approximately $238,000. Prelude Capital Management LLC acquired a new stake in Everus Construction Group during the third quarter worth approximately $206,000. Finally, Man Group plc purchased a new stake in shares of Everus Construction Group during the 3rd quarter worth approximately $293,000.

Everus Construction Group Company Profile

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers. Everus Construction Group is based in BISMARCK, N.D.