Research Analysts Set Expectations for MYR Group Q1 Earnings

MYR Group Inc. (NASDAQ:MYRG) – Analysts at KeyCorp issued their Q1 2025 earnings per share estimates for MYR Group in a research report issued to clients and investors on Thursday, March 13th. KeyCorp analyst S. Jain forecasts that the utilities provider will post earnings of $1.14 per share for the quarter. KeyCorp currently has a “Overweight” rating and a $136.00 target price on the stock. The consensus estimate for MYR Group’s current full-year earnings is $1.16 per share.

MYRG has been the topic of a number of other reports. Stifel Nicolaus boosted their price objective on MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird lowered their price objective on MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.00.

MYR Group Stock Performance

MYRG opened at $117.21 on Monday. The stock has a market cap of $1.89 billion, a PE ratio of 51.18 and a beta of 0.93. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. MYR Group has a 1 year low of $86.60 and a 1 year high of $181.02. The stock’s 50 day simple moving average is $135.18 and its 200-day simple moving average is $131.76.

Hedge Funds Weigh In On MYR Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in MYR Group by 77.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 54,405 shares of the utilities provider’s stock worth $8,045,000 after purchasing an additional 23,760 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of MYR Group by 11.1% during the third quarter. Fisher Asset Management LLC now owns 37,752 shares of the utilities provider’s stock valued at $3,859,000 after acquiring an additional 3,759 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of MYR Group by 66.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 19,161 shares of the utilities provider’s stock valued at $1,959,000 after acquiring an additional 7,655 shares during the period. Principal Financial Group Inc. lifted its stake in shares of MYR Group by 3.7% during the third quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock valued at $44,113,000 after acquiring an additional 15,361 shares during the period. Finally, Walleye Capital LLC lifted its stake in shares of MYR Group by 422.6% during the third quarter. Walleye Capital LLC now owns 43,985 shares of the utilities provider’s stock valued at $4,497,000 after acquiring an additional 35,569 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

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.