Wall Street analysts expect MYR Group Inc. (NASDAQ:MYRG) to announce $0.63 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for MYR Group’s earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at $0.56. MYR Group reported earnings per share of $0.59 during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.8%. The company is expected to announce its next quarterly earnings report on Wednesday, May 5th.
According to Zacks, analysts expect that MYR Group will report full-year earnings of $3.64 per share for the current fiscal year, with EPS estimates ranging from $3.45 to $3.82. For the next financial year, analysts forecast that the business will post earnings of $4.12 per share, with EPS estimates ranging from $4.02 to $4.23. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow MYR Group.
MYR Group (NASDAQ:MYRG) last released its earnings results on Tuesday, March 2nd. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.28. MYR Group had a net margin of 2.41% and a return on equity of 13.89%. The business had revenue of $607.97 million for the quarter, compared to analysts’ expectations of $572.65 million.
In related news, CEO Richard S. Jr. Swartz sold 6,425 shares of MYR Group stock in a transaction dated Friday, April 9th. The shares were sold at an average price of $74.69, for a total transaction of $479,883.25. Following the sale, the chief executive officer now directly owns 125,011 shares in the company, valued at $9,337,071.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William A. Koertner sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $65.49, for a total transaction of $654,900.00. Following the completion of the sale, the director now owns 153,317 shares in the company, valued at $10,040,730.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,425 shares of company stock valued at $4,047,283. Corporate insiders own 4.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Planned Solutions Inc. acquired a new stake in MYR Group in the 4th quarter worth approximately $54,000. West Oak Capital LLC acquired a new stake in MYR Group in the 4th quarter worth approximately $114,000. Morgan Dempsey Capital Management LLC lifted its holdings in MYR Group by 7.8% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 2,195 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 158 shares during the last quarter. Wetherby Asset Management Inc. acquired a new stake in MYR Group in the 4th quarter worth approximately $214,000. Finally, Paloma Partners Management Co acquired a new stake in MYR Group in the 4th quarter worth approximately $234,000. 85.82% of the stock is owned by institutional investors and hedge funds.
NASDAQ MYRG traded down $0.10 during mid-day trading on Monday, hitting $69.58. The company’s stock had a trading volume of 1,123 shares, compared to its average volume of 143,097. MYR Group has a 52-week low of $22.80 and a 52-week high of $76.23. The stock’s fifty day simple moving average is $70.01 and its two-hundred day simple moving average is $58.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $1.17 billion, a P/E ratio of 21.98 and a beta of 1.01.
About MYR Group
MYR Group Inc, through its subsidiaries, provides electrical construction services in the United States and Canada. It operates through two segments, Transmission and Distribution, and Commercial and Industrial. The company's 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.
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