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MYR Group (MYRG) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

MYR Group (MYRG) closed at $29.36 in the latest trading session, marking a -0.03% move from the prior day. This change lagged the S&P 500's daily gain of 0.06%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.33%.

MYRG will be looking to display strength as it nears its next earnings release. On that day, MYRG is projected to report earnings of $0.45 per share, which would represent year-over-year growth of 4.65%. 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.

Any recent changes to analyst estimates for MYRG should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.72% lower. MYRG is currently sporting a Zacks Rank of #4 (Sell).

Looking at its valuation, MYRG is holding a Forward P/E ratio of 12.12. For comparison, its industry has an average Forward P/E of 12.12, which means MYRG is trading at a no noticeable deviation to the group.

The Electric Construction industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 7% 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.

To follow MYRG in the coming trading sessions, be sure to utilize Zacks.com.

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