MYR Group (MYRG) Scheduled to Post Quarterly Earnings on Wednesday

MYR Group (NASDAQ:MYRG) is scheduled to be releasing its earnings data after the market closes on Wednesday, October 30th. Analysts expect MYR Group to post earnings of $0.25 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

MYR Group (NASDAQ:MYRG) last released its earnings results 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 company had revenue of $828.89 million during the quarter, compared to the consensus estimate of $876.07 million. During the same period last year, the firm posted $1.33 EPS. The company’s revenue was down 6.7% on a year-over-year basis. 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 1.3 %

Shares of NASDAQ:MYRG opened at $114.36 on Monday. MYR Group has a 1 year low of $86.60 and a 1 year high of $181.02. The company has a market cap of $1.92 billion, a PE ratio of 22.16 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. The stock’s 50-day moving average is $104.88 and its 200 day moving average is $129.82.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MYRG. Stifel Nicolaus lowered their price objective on MYR Group from $172.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. StockNews.com lowered MYR Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group cut their price objective on MYR Group from $182.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Finally, Robert W. Baird decreased their price objective on shares of MYR Group from $170.00 to $143.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.