MYR Group Inc (NASDAQ:MYRG) – B. Riley upped their FY2018 earnings per share estimates for shares of MYR Group in a report issued on Thursday, Zacks Investment Research reports. B. Riley analyst A. Rygiel now anticipates that the utilities provider will earn $1.91 per share for the year, up from their prior forecast of $1.55. B. Riley has a “Neutral” rating and a $35.00 price objective on the stock.
MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.17). The company had revenue of $373.50 million during the quarter, compared to analysts’ expectations of $350.80 million. MYR Group had a return on equity of 5.76% and a net margin of 1.12%. The company’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS.
MYR Group (NASDAQ:MYRG) traded up $0.43 on Monday, reaching $35.77. The company had a trading volume of 47,000 shares, compared to its average volume of 101,344. MYR Group has a 12 month low of $23.00 and a 12 month high of $43.77. The stock has a market capitalization of $588.85, a price-to-earnings ratio of 38.46 and a beta of 0.48. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Thomson Horstmann & Bryant Inc. boosted its holdings in shares of MYR Group by 13.8% in the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 344,357 shares of the utilities provider’s stock valued at $12,303,000 after purchasing an additional 41,659 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of MYR Group by 19.5% in the third quarter. GSA Capital Partners LLP now owns 65,430 shares of the utilities provider’s stock valued at $1,907,000 after purchasing an additional 10,672 shares during the period. California Public Employees Retirement System boosted its holdings in shares of MYR Group by 9.6% in the third quarter. California Public Employees Retirement System now owns 42,954 shares of the utilities provider’s stock valued at $1,252,000 after purchasing an additional 3,754 shares during the period. Western Standard LLC purchased a new stake in shares of MYR Group in the third quarter valued at approximately $393,000. Finally, KBC Group NV boosted its holdings in shares of MYR Group by 21.4% in the third quarter. KBC Group NV now owns 38,940 shares of the utilities provider’s stock valued at $1,135,000 after purchasing an additional 6,874 shares during the period. Hedge funds and other institutional investors own 87.16% of the company’s stock.
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MYR Group Company Profile
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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