Everus (NYSE:ECG) Stock Price Down 8% After Earnings Miss

Everus (NYSE:ECG) shares traded down 8% during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $57.18 and last traded at $62.98. 235,893 shares changed hands during trading, a decline of 59% from the average session volume of 570,397 shares. The stock had previously closed at $68.42.

The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06).

Analyst Upgrades and Downgrades

ECG has been the subject of a number of analyst reports. Oppenheimer upped their price objective on shares of Everus from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. DA Davidson initiated coverage on shares of Everus in a research note on Monday, November 4th. They issued a “neutral” rating and a $55.00 price target for the company. Wolfe Research assumed coverage on shares of Everus in a research report on Tuesday, December 3rd. They set a “peer perform” rating on the stock. Finally, Stifel Nicolaus upped their price objective on Everus from $78.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 24th.

Institutional Investors Weigh In On Everus

A number of institutional investors have recently made changes to their positions in the stock. SRS Capital Advisors Inc. purchased a new position in shares of Everus during the 4th quarter worth approximately $26,000. Principal Securities Inc. acquired a new position in Everus during the fourth quarter worth $27,000. HighMark Wealth Management LLC acquired a new position in Everus during the fourth quarter worth $28,000. Crews Bank & Trust purchased a new position in shares of Everus during the fourth quarter worth $29,000. Finally, Mendota Financial Group LLC acquired a new stake in shares of Everus in the fourth quarter valued at $36,000.

Everus Stock Down 18.1 %

The firm’s fifty day simple moving average is $68.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.50.

Everus Company Profile

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers.