MYR Group (NASDAQ:MYRG) Issues Earnings Results

MYR Group (NASDAQ:MYRG) released its quarterly earnings data on Wednesday. The utilities provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.24, Zacks reports. MYR Group had a net margin of 1.08% and a return on equity of 6.05%.

MYR Group Stock Up 3.6 %

MYRG stock traded up $4.34 during midday trading on Wednesday, hitting $125.63. The company’s stock had a trading volume of 251,363 shares, compared to its average volume of 190,679. The stock has a market capitalization of $2.03 billion, a P/E ratio of 54.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. The company’s fifty day moving average price is $143.94 and its 200 day moving average price is $130.31. MYR Group has a twelve month low of $86.60 and a twelve month high of $181.02.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. StockNews.com upgraded shares of MYR Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Robert W. Baird increased their price target on shares of MYR Group from $131.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised their target price on shares of MYR Group from $124.00 to $153.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, MYR Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

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.