Wall Street brokerages expect MYR Group Inc (NASDAQ:MYRG) to post earnings of $0.27 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for MYR Group’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.26. MYR Group posted earnings per share of $0.07 in the same quarter last year, which would suggest a positive year-over-year growth rate of 285.7%. The company is expected to report its next earnings results on Wednesday, May 2nd.
On average, analysts expect that MYR Group will report full-year earnings of $1.70 per share for the current fiscal year, with EPS estimates ranging from $1.36 to $1.91. For the next year, analysts forecast that the business will post earnings of $2.13 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow MYR Group.
MYR Group (NASDAQ:MYRG) last announced its quarterly earnings results on Wednesday, March 7th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. MYR Group had a net margin of 1.51% and a return on equity of 4.99%. The company had revenue of $373.50 million for the quarter, compared to analysts’ expectations of $373.85 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. MYR Group’s quarterly revenue was up 8.7% on a year-over-year basis.
A number of large investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC bought a new stake in MYR Group during the fourth quarter worth about $246,000. Macquarie Group Ltd. boosted its stake in MYR Group by 8.7% during the fourth quarter. Macquarie Group Ltd. now owns 939,473 shares of the utilities provider’s stock worth $33,567,000 after acquiring an additional 74,981 shares in the last quarter. Raymond James & Associates bought a new stake in MYR Group during the fourth quarter worth about $236,000. Guggenheim Capital LLC boosted its stake in MYR Group by 7.3% during the fourth quarter. Guggenheim Capital LLC now owns 43,727 shares of the utilities provider’s stock worth $1,563,000 after acquiring an additional 2,958 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in MYR Group during the fourth quarter worth about $1,170,000. 89.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of MYR Group (MYRG) traded down $0.23 during midday trading on Friday, hitting $36.78. 66,488 shares of the company traded hands, compared to its average volume of 89,593. MYR Group has a one year low of $23.00 and a one year high of $43.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $568.29, a PE ratio of 28.96 and a beta of 0.45.
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About MYR Group
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). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.
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