MYR Group Inc. (NASDAQ:MYRG) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of MYR Group Inc. (NASDAQ:MYRG) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $173.25.

A number of research firms have weighed in on MYRG. Robert W. Baird lowered their price target on MYR Group from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus decreased their price objective on MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th.

MYR Group Stock Down 0.4 %

MYRG stock opened at $141.86 on Tuesday. The company’s 50 day moving average is $145.61 and its 200 day moving average is $153.32. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 27.49 and a beta of 0.99. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.05. MYR Group has a 1-year low of $110.87 and a 1-year high of $181.02.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. MYR Group had a net margin of 2.38% and a return on equity of 13.64%. The firm had revenue of $815.56 million for the quarter, compared to analyst estimates of $854.13 million. During the same quarter in the prior year, the firm earned $1.38 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts predict that MYR Group will post 5.4 EPS for the current fiscal year.

Institutional Trading of MYR Group

A number of institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. purchased a new position in shares of MYR Group in the fourth quarter valued at about $29,000. Fidelis Capital Partners LLC purchased a new position in MYR Group during the 1st quarter valued at about $48,000. Quest Partners LLC purchased a new position in MYR Group during the 4th quarter valued at about $60,000. GAMMA Investing LLC bought a new position in MYR Group during the 4th quarter valued at approximately $62,000. Finally, Covestor Ltd lifted its holdings in MYR Group by 23.7% in the 1st quarter. Covestor Ltd now owns 689 shares of the utilities provider’s stock worth $122,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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 industry; and services, including construction and maintenance of high voltage transmission lines, substations, and lower voltage underground and overhead distribution systems, clean energy projects, and electric vehicle charging infrastructure services, as well as emergency restoration services in response to hurricane, wildfire, ice, or other related damages.