MYR Group (MYRG) Scheduled to Post Earnings on Wednesday

MYR Group (NASDAQ:MYRG - Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.25 per share for the quarter. Parties that are interested in registering for the company's conference call can do so using this link.

MYR Group (NASDAQ:MYRG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported ($0.91) earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($1.98). MYR Group had a net margin of 1.37% and a return on equity of 7.65%. The firm had revenue of $828.89 million during the quarter, compared to analyst estimates of $876.07 million. During the same quarter in the previous year, the business posted $1.33 earnings per share. MYR Group's revenue for the quarter was down 6.7% compared to the same quarter last year. On average, analysts expect MYR Group to post $1 EPS for the current fiscal year and $6 EPS for the next fiscal year.

MYR Group Stock Down 2.2 %

Shares of MYRG traded down $2.67 during midday trading on Wednesday, reaching $116.63. The stock had a trading volume of 144,830 shares, compared to its average volume of 172,006. MYR Group has a 1-year low of $86.60 and a 1-year high of $181.02. The company's fifty day simple moving average is $104.03 and its two-hundred day simple moving average is $131.03. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 22.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MYRG. The Goldman Sachs Group reduced their price objective on shares of MYR Group from $182.00 to $124.00 and set a "buy" rating on the stock in a report on Thursday, September 19th. Stifel Nicolaus reduced their price objective on shares of MYR Group from $172.00 to $119.00 and set a "buy" rating on the stock in a report on Monday, August 5th. Robert W. Baird reduced their price objective on shares of MYR Group from $170.00 to $143.00 and set an "outperform" rating on the stock in a report on Thursday, August 1st. Finally, StockNews.com downgraded shares of MYR Group from a "hold" rating to a "sell" rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $137.75.

MYR Group Company Profile

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.