MYR Group Inc (MYRG) Expected to Announce Earnings of $0.28 Per Share

Wall Street analysts predict that MYR Group Inc (NASDAQ:MYRG) will post earnings of $0.28 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for MYR Group’s earnings. The highest EPS estimate is $0.36 and the lowest is $0.24. MYR Group reported earnings of $0.10 per share in the same quarter last year, which would indicate a positive year over year growth rate of 180%. The firm is scheduled to report its next quarterly earnings results on Wednesday, May 3rd.

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 $1.58 to $1.86. For the next financial year, analysts forecast that the company will post earnings of $1.91 per share, with EPS estimates ranging from $1.75 to $2.07. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover MYR Group.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings results on Thursday, March 9th. The utilities provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.08. MYR Group had a return on equity of 6.91% and a net margin of 1.82%. The firm had revenue of $343.70 million for the quarter, compared to the consensus estimate of $291.69 million. During the same period in the prior year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was up 26.7% on a year-over-year basis.

Several equities analysts recently commented on the company. Zacks Investment Research lowered MYR Group from a “hold” rating to a “sell” rating in a report on Wednesday, February 8th. FBR & Co increased their target price on MYR Group from $32.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, January 26th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $37.20.

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In related news, COO Tod M. Cooper sold 8,412 shares of the stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $38.95, for a total value of $327,647.40. Following the transaction, the chief operating officer now owns 31,590 shares of the company’s stock, valued at $1,230,430.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gerald B. Jr. Engen sold 19,853 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $40.41, for a total value of $802,259.73. Following the completion of the transaction, the vice president now directly owns 86,837 shares in the company, valued at approximately $3,509,083.17. The disclosure for this sale can be found here. Insiders sold 36,265 shares of company stock worth $1,450,867 in the last three months. 10.40% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Wexford Capital LP acquired a new position in MYR Group during the fourth quarter valued at approximately $209,000. Paradigm Capital Management Inc. NY acquired a new position in MYR Group during the third quarter valued at approximately $241,000. SG Americas Securities LLC raised its position in MYR Group by 78.9% in the third quarter. SG Americas Securities LLC now owns 9,441 shares of the utilities provider’s stock valued at $284,000 after buying an additional 4,164 shares during the period. Aperio Group LLC raised its position in MYR Group by 15.7% in the third quarter. Aperio Group LLC now owns 10,346 shares of the utilities provider’s stock valued at $311,000 after buying an additional 1,402 shares during the period. Finally, A.R.T. Advisors LLC acquired a new position in MYR Group during the fourth quarter valued at approximately $350,000. 92.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MYR Group (NASDAQ:MYRG) traded up 0.91% during midday trading on Friday, hitting $41.17. The stock had a trading volume of 170,863 shares. The firm’s 50 day moving average price is $40.13 and its 200 day moving average price is $37.01. The firm has a market cap of $672.88 million, a price-to-earnings ratio of 33.47 and a beta of 0.53. MYR Group has a 52-week low of $21.84 and a 52-week high of $43.77.

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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