MYR Group Inc. (NASDAQ:MYRG – Get Free Report) was down 5.3% on Friday after Robert W. Baird lowered their price target on the stock from $185.00 to $180.00. Robert W. Baird currently has an outperform rating on the stock. MYR Group traded as low as $143.21 and last traded at $143.88. Approximately 150,647 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 136,256 shares. The stock had previously closed at $151.99.
Several other research analysts also recently commented on MYRG. Sidoti downgraded shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price objective for the company. in a research report on Monday, February 26th. Stifel Nicolaus dropped their price objective on MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Finally, KeyCorp started coverage on MYR Group in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.25.
Check Out Our Latest Report on MYR Group
Institutional Investors Weigh In On MYR Group
MYR Group Stock Down 5.3 %
The stock has a 50-day moving average price of $165.89 and a 200-day moving average price of $146.55. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $2.41 billion, a P/E ratio of 27.89 and a beta of 1.10.
MYR Group (NASDAQ:MYRG – Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.10. MYR Group had a net margin of 2.38% and a return on equity of 13.84%. The firm had revenue of $815.56 million during the quarter, compared to analyst estimates of $854.13 million. During the same quarter last year, the business earned $1.38 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, research analysts predict that MYR Group Inc. will post 6.64 EPS for the current fiscal year.
About MYR Group
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.
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