Everus Construction Group (NYSE:ECG) Issues Earnings Results, Beats Estimates By $0.48 EPS

Everus Construction Group (NYSE:ECG) issued its quarterly earnings data on Tuesday. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.48, FiscalAI reports. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.19 billion. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 EPS.

Everus Construction Group Stock Performance

NYSE:ECG opened at $113.06 on Wednesday. Everus Construction Group has a twelve month low of $78.14 and a twelve month high of $171.58. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $114.12 and a 200-day moving average of $125.44. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 22.75 and a beta of 2.36.

Analyst Ratings Changes

ECG has been the topic of a number of recent analyst reports. Guggenheim boosted their price target on shares of Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Zacks Research lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $200.00 price target on shares of Everus Construction Group in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Insider Activity at Everus Construction Group

In other Everus Construction Group news, Director David Sparby bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the acquisition, the director directly owned 19,658 shares of the company’s stock, valued at $2,849,427.10. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, VP Paul Sanderson sold 3,300 shares of the 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 of the company’s stock, valued at approximately $2,590,275.50. This represents a 14.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.33% of the company’s stock.

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.