KeyCorp Weighs in on MYR Group's Q1 Earnings (NASDAQ:MYRG)

MYR Group Inc. (NASDAQ:MYRG - Free Report) - KeyCorp issued their Q1 2025 earnings per share estimates for MYR Group in a report released on Thursday, March 13th. KeyCorp analyst S. Jain forecasts that the utilities provider will post earnings per share of $1.14 for the quarter. KeyCorp has a "Overweight" rating and a $136.00 price objective on the stock. The consensus estimate for MYR Group's current full-year earnings is $1.16 per share.

MYRG has been the subject of several other reports. Robert W. Baird dropped their target price on MYR Group from $201.00 to $159.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus raised their target price on MYR Group from $153.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, MYR Group has an average rating of "Moderate Buy" and an average price target of $155.00.

MYR Group Trading Down 1.3 %

MYR Group stock traded down $1.59 during trading hours on Monday, hitting $124.92. The stock had a trading volume of 145,233 shares, compared to its average volume of 197,326. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 54.58 and a beta of 0.93. MYR Group has a one year low of $86.60 and a one year high of $181.02. The business's 50 day simple moving average is $133.84 and its 200-day simple moving average is $132.03.

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Institutional Investors Weigh In On MYR Group

Hedge funds have recently added to or reduced their stakes in the company. MCF Advisors LLC grew its stake in MYR Group by 470.0% in the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 141 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of MYR Group in the fourth quarter valued at approximately $47,000. Smartleaf Asset Management LLC lifted its holdings in shares of MYR Group by 697.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock valued at $49,000 after purchasing an additional 286 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of MYR Group by 27.0% in the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider's stock valued at $83,000 after purchasing an additional 118 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd lifted its holdings in shares of MYR Group by 13.2% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock valued at $92,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

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.