MYR Group (MYRG) Stock Moves -0.49%: What You Should Know
In the latest trading session, MYR Group (MYRG) closed at $135.03, marking a -0.49% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Coming into today, shares of the electrical construction services provider had lost 2.95% in the past month. In that same time, the Utilities sector gained 0.22%, while the S&P 500 gained 4.16%.
Wall Street will be looking for positivity from MYR Group as it approaches its next earnings report date. In that report, analysts expect MYR Group to post earnings of $1.28 per share. This would mark year-over-year growth of 11.3%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $813.5 million, up 14.88% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.81 per share and revenue of $3.29 billion. These totals would mark changes of +18.33% and +9.51%, respectively, from last year.
Any recent changes to analyst estimates for MYR Group should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MYR Group is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, MYR Group is holding a Forward P/E ratio of 23.35. This represents a no noticeable deviation compared to its industry's average Forward P/E of 23.35.
The Electric Construction industry is part of the Utilities sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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MYR Group, Inc. (MYRG) : Free Stock Analysis Report
