Brokerages expect MYR Group Inc. (NASDAQ:MYRG – Get Rating) to post sales of $660.75 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for MYR Group’s earnings. The lowest sales estimate is $654.30 million and the highest is $667.20 million. MYR Group reported sales of $649.57 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.7%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that MYR Group will report full year sales of $2.78 billion for the current fiscal year, with estimates ranging from $2.72 billion to $2.84 billion. For the next year, analysts forecast that the business will report sales of $2.95 billion, with estimates ranging from $2.83 billion to $3.06 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for MYR Group.
MYR Group (NASDAQ:MYRG – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.18. MYR Group had a net margin of 3.37% and a return on equity of 16.96%. The company had revenue of $636.62 million for the quarter, compared to analysts’ expectations of $605.10 million. During the same period last year, the company earned $1.17 EPS.
Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in MYR Group by 2.7% in the 1st quarter. BlackRock Inc. now owns 2,922,873 shares of the utilities provider’s stock worth $274,868,000 after purchasing an additional 77,662 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of MYR Group by 3.3% during the first quarter. Vanguard Group Inc. now owns 1,187,026 shares of the utilities provider’s stock worth $111,628,000 after buying an additional 37,984 shares during the last quarter. Neumeier Poma Investment Counsel LLC raised its stake in shares of MYR Group by 2.1% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 637,934 shares of the utilities provider’s stock valued at $59,991,000 after purchasing an additional 12,849 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of MYR Group by 9.2% in the first quarter. Principal Financial Group Inc. now owns 562,180 shares of the utilities provider’s stock valued at $52,867,000 after purchasing an additional 47,353 shares in the last quarter. Finally, State Street Corp raised its stake in shares of MYR Group by 4.1% in the first quarter. State Street Corp now owns 534,855 shares of the utilities provider’s stock valued at $50,298,000 after purchasing an additional 20,971 shares in the last quarter. 86.17% of the stock is currently owned by institutional investors.
NASDAQ MYRG opened at $92.13 on Thursday. MYR Group has a one year low of $74.77 and a one year high of $121.22. The company’s 50 day moving average price is $88.14 and its 200 day moving average price is $95.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 18.43 and a beta of 1.15.
MYR Group Company Profile (Get Rating)
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, renewable power facilities, and limited gas construction services, as well as emergency restoration services in response to hurricane, ice, or other storm related damages.
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