MYR Group (MYRG) closed the most recent trading day at $28.28, moving +1.36% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.31%. Elsewhere, the Dow gained 1.9%, while the tech-heavy Nasdaq added 1.01%.
MYRG will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.45, up 4.65% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $498.78 million, up 11.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.42 per share and revenue of $2.14 billion, which would represent changes of +7.08% and +3.37%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for MYRG. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.72% lower. MYRG is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, MYRG is currently trading at a Forward P/E ratio of 11.52. This represents a no noticeable deviation compared to its industry's average Forward P/E of 11.52.
The Electric Construction industry is part of the Utilities sector. This group has a Zacks Industry Rank of 241, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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