Everus Construction Group (NYSE:ECG) Releases Quarterly Earnings Results, Beats Expectations By $0.50 EPS

Everus Construction Group (NYSE:ECG) issued its quarterly earnings results on Tuesday. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.50, FiscalAI reports. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.08 billion. Everus Construction Group had a return on equity of 40.40% and a net margin of 5.96%.Everus Construction Group’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS.

Everus Construction Group Stock Down 1.0%

Shares of NYSE:ECG traded down $1.43 during trading hours on Thursday, hitting $139.32. The company’s stock had a trading volume of 329,044 shares, compared to its average volume of 651,001. The firm’s fifty day moving average price is $143.20 and its 200 day moving average price is $129.04. Everus Construction Group has a 52 week low of $69.61 and a 52 week high of $171.58. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 28.06 and a beta of 2.37. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.77 and a quick ratio of 1.71.

Hedge Funds Weigh In On Everus Construction Group

Several institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP purchased a new position in shares of Everus Construction Group in the 4th quarter valued at $184,838,000. Invesco Ltd. lifted its stake in shares of Everus Construction Group by 86.4% during the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock worth $153,984,000 after purchasing an additional 832,389 shares during the last quarter. Alliancebernstein L.P. boosted its position in Everus Construction Group by 5.7% during the second quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock valued at $85,821,000 after purchasing an additional 72,775 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Everus Construction Group by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,094,296 shares of the company’s stock valued at $93,638,000 after purchasing an additional 7,133 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Everus Construction Group by 162.2% in the fourth quarter. Millennium Management LLC now owns 642,250 shares of the company’s stock valued at $54,951,000 after purchasing an additional 397,268 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ECG shares. Glj Research initiated coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They set a “hold” rating and a $141.00 target price for the company. Oppenheimer reiterated an “outperform” rating and set a $200.00 price objective on shares of Everus Construction Group in a report on Thursday. Freedom Capital lowered shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald lifted their price target on shares of Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, Guggenheim boosted their price target on Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $162.17.

Everus Construction Group Company Profile

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers. Everus Construction Group is based in BISMARCK, N.D.