Everus Construction Group (NYSE:ECG) Posts Earnings Results

Everus Construction Group (NYSE:ECG) announced its earnings results on Tuesday. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.48, FiscalAI reports. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.19 billion.

Everus Construction Group Price Performance

Shares of Everus Construction Group stock traded up $10.07 on Tuesday, reaching $113.06. The company’s stock had a trading volume of 2,029,190 shares, compared to its average volume of 616,349. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average price of $114.27 and a 200-day moving average price of $125.30. The company has a market capitalization of $5.77 billion, a P/E ratio of 22.75 and a beta of 2.36. Everus Construction Group has a 52-week low of $78.14 and a 52-week high of $171.58.

Insider Activity at Everus Construction Group

In related news, Director David M. Sparby bought 1,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was acquired at an average cost of $144.95 per share, with a total value of $144,950.00. Following the purchase, the director directly owned 19,658 shares of the company’s stock, valued at $2,849,427.10. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Paul R. Sanderson sold 3,300 shares of Everus Construction Group stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $136.69, for a total transaction of $451,077.00. Following the sale, the vice president directly owned 18,950 shares in the company, valued at approximately $2,590,275.50. The trade was a 14.83% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ECG shares. Weiss Ratings raised shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Cantor Fitzgerald reduced their price target on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating on the stock in a report on Thursday, August 13th. Oppenheimer reissued an “outperform” rating and issued a $200.00 price objective on shares of Everus Construction Group in a research report on Thursday, August 6th. Finally, DA Davidson started coverage on Everus Construction Group in a report on Friday, August 21st. They issued a “buy” rating and a $168.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $169.50.

Everus Construction Group Company Profile

Everus Construction Group, Inc (NYSE: ECG) is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.