MYR Group Inc (NASDAQ:MYRG) has received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $38.25.
Several research analysts have issued reports on MYRG shares. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Stifel Nicolaus set a $26.00 price target on Air Transport Services Group and gave the company a “buy” rating in a report on Thursday, May 16th. Finally, ValuEngine raised Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th.
Several hedge funds and other institutional investors have recently bought and sold shares of MYRG. Comerica Bank raised its stake in MYR Group by 2.3% during the 1st quarter. Comerica Bank now owns 16,359 shares of the utilities provider’s stock valued at $594,000 after purchasing an additional 363 shares during the period. Texas Permanent School Fund raised its stake in MYR Group by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 11,247 shares of the utilities provider’s stock valued at $389,000 after purchasing an additional 407 shares during the period. Barclays PLC raised its stake in MYR Group by 2.5% during the 4th quarter. Barclays PLC now owns 19,273 shares of the utilities provider’s stock valued at $543,000 after purchasing an additional 470 shares during the period. Principal Financial Group Inc. raised its stake in MYR Group by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 134,482 shares of the utilities provider’s stock valued at $3,788,000 after purchasing an additional 722 shares during the period. Finally, New York State Teachers Retirement System raised its stake in MYR Group by 22.4% during the 1st quarter. New York State Teachers Retirement System now owns 8,758 shares of the utilities provider’s stock valued at $303,000 after purchasing an additional 1,600 shares during the period. 89.56% of the stock is currently owned by institutional investors.
MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, May 1st. The utilities provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $468.10 million during the quarter, compared to the consensus estimate of $395.83 million. MYR Group had a return on equity of 10.32% and a net margin of 1.98%. The firm’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, equities research analysts expect that MYR Group will post 2.36 earnings per share for the current fiscal year.
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.
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