Research Analysts Issue Forecasts for MYR Group Q1 Earnings

MYR Group Inc. (NASDAQ:MYRG) – Equities researchers at KeyCorp issued their Q1 2025 earnings estimates for MYR Group in a research report issued to clients and investors on Thursday, March 13th. KeyCorp analyst S. Jain expects that the utilities provider will post earnings per share of $1.14 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.

A number of other equities analysts have also recently issued reports on MYRG. Robert W. Baird cut their target price on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus raised their price target on shares of MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, MYR Group currently has a consensus rating of “Moderate Buy” and an average target price of $155.00.

MYR Group Stock Performance

Shares of NASDAQ MYRG opened at $124.34 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $134.22 and its two-hundred day moving average price is $132.07. MYR Group has a 52-week low of $86.60 and a 52-week high of $181.02. The stock has a market capitalization of $2.01 billion, a P/E ratio of 54.30 and a beta of 0.93.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MYRG. Wellington Management Group LLP acquired a new position in shares of MYR Group during the fourth quarter valued at approximately $60,217,000. Jacobs Levy Equity Management Inc. acquired a new position in MYR Group in the third quarter worth approximately $24,145,000. ACK Asset Management LLC acquired a new position in MYR Group in the fourth quarter worth approximately $29,754,000. T. Rowe Price Investment Management Inc. grew its position in MYR Group by 42.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 537,347 shares of the utilities provider’s stock worth $79,942,000 after buying an additional 159,302 shares during the last quarter. Finally, Millennium Management LLC grew its position in MYR Group by 38.4% in the fourth quarter. Millennium Management LLC now owns 461,830 shares of the utilities provider’s stock worth $68,706,000 after buying an additional 128,159 shares during the last quarter. 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.