MYR Group Inc. (NASDAQ:MYRG – Get Free Report) shares fell 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. 150,647 shares changed hands during trading, an increase of 11% from the average session volume of 136,256 shares. The stock had previously closed at $151.99.
Other equities analysts also recently issued reports about the company. Sidoti downgraded MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 target price for the company. in a research note on Monday, February 26th. Stifel Nicolaus decreased their price target on MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Finally, KeyCorp assumed coverage on MYR Group in a 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $173.25.
Check Out Our Latest Analysis on MYRG
Institutional Investors Weigh In On MYR Group
MYR Group Trading Down 5.3 %
The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $2.41 billion, a P/E ratio of 29.46 and a beta of 1.10. The firm’s fifty day simple moving average is $165.89 and its 200-day simple moving average is $146.55.
MYR Group (NASDAQ:MYRG – Get Free Report) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. The firm had revenue of $815.56 million for the quarter, compared to the consensus estimate of $854.13 million. MYR Group had a return on equity of 13.84% and a net margin of 2.38%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 EPS. Equities research analysts expect 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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