Everus Construction Group (NYSE:ECG) Posts Earnings Results, Beats Expectations By $0.48 EPS

Everus Construction Group (NYSE:ECG) issued its quarterly earnings data on Tuesday. The company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.31 by $0.48, FiscalAI reports. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.19 billion. Everus Construction Group had a net margin of 6.20% and a return on equity of 41.54%. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 EPS.

Everus Construction Group Stock Down 6.9%

NYSE:ECG traded down $5.50 during mid-day trading on Thursday, hitting $74.20. The stock had a trading volume of 456,251 shares, compared to its average volume of 627,979. Everus Construction Group has a twelve month low of $70.44 and a twelve month high of $171.58. The stock has a 50-day simple moving average of $113.36 and a two-hundred day simple moving average of $125.39. The company has a market capitalization of $3.79 billion, a PE ratio of 13.35 and a beta of 2.36. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34.

Insider Transactions at Everus Construction Group

In other Everus Construction Group news, VP Paul Sanderson sold 3,300 shares of Everus Construction Group stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $136.69, for a total transaction of $451,077.00. Following the completion of the sale, the vice president directly owned 18,950 shares of the company’s stock, valued at $2,590,275.50. The trade was a 14.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Sparby acquired 1,000 shares of the stock in a transaction dated Monday, August 17th. The shares were acquired at an average cost of $144.95 per share, with a total value of $144,950.00. Following the completion of the transaction, the director owned 19,658 shares in the company, valued at approximately $2,849,427.10. This represents a 5.36% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Oppenheimer reiterated an “outperform” rating and issued a $200.00 target price on shares of Everus Construction Group in a report on Thursday, August 6th. Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Zacks Research lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Cantor Fitzgerald dropped their price objective on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $169.50.

About Everus Construction Group

Everus Construction Group, Inc (NYSE: ECG) is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.