MYR Group Inc. (NASDAQ:MYRG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

MYR Group Inc. (NASDAQ:MYRG) has received a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $137.75.

Several analysts have recently issued reports on MYRG shares. StockNews.com lowered MYR Group from a “hold” rating to a “sell” rating in a report on Wednesday, September 18th. 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 research note on Thursday, September 19th. Robert W. Baird decreased their target price 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, Stifel Nicolaus cut their price target on shares of MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a report on Monday, August 5th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MYRG. US Bancorp DE increased its position in MYR Group by 2,150.2% during the 4th quarter. US Bancorp DE now owns 4,928 shares of the utilities provider’s stock worth $713,000 after purchasing an additional 4,709 shares in the last quarter. Capital World Investors acquired a new position in shares of MYR Group during the fourth quarter worth $20,781,000. Tower Research Capital LLC TRC lifted its stake in shares of MYR Group by 113.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,926 shares of the utilities provider’s stock valued at $1,580,000 after acquiring an additional 5,811 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of MYR Group during the 4th quarter valued at $1,481,000. Finally, Vanguard Group Inc. grew its position in MYR Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,260,930 shares of the utilities provider’s stock worth $182,368,000 after acquiring an additional 5,055 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

MYR Group Trading Up 1.0 %

Shares of MYR Group stock opened at $102.75 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a 50-day moving average of $106.35 and a 200-day moving average of $137.70. MYR Group has a 52-week low of $86.60 and a 52-week high of $181.02. The stock has a market cap of $1.72 billion, a PE ratio of 19.91 and a beta of 0.93.

MYR Group (NASDAQ:MYRG) last announced its earnings results on Wednesday, July 31st. The utilities provider reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($1.98). The business had revenue of $828.89 million for the quarter, compared to analyst estimates of $876.07 million. MYR Group had a return on equity of 7.65% and a net margin of 1.37%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.33 EPS. As a group, sell-side analysts forecast that MYR Group will post 0.91 EPS for the current year.

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.