MYR Group (MYRG) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, MYR Group (MYRG) closed at $136.78, marking a -0.66% move from the previous day. This change lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq lost 4.09%.
Prior to today's trading, shares of the electrical construction services provider had gained 2.55% over the past month. This has outpaced the Utilities sector's loss of 2.53% and lagged the S&P 500's gain of 3.98% in that time.
Investors will be hoping for strength from MYR Group as it approaches its next earnings release. On that day, MYR Group is projected to report earnings of $1.28 per share, which would represent year-over-year growth of 11.3%. Our most recent consensus estimate is calling for quarterly revenue of $813.5 million, up 14.88% from the year-ago period.
MYRG's full-year Zacks Consensus Estimates are calling for earnings of $5.81 per share and revenue of $3.29 billion. These results would represent year-over-year changes of +18.33% and +9.51%, respectively.
Investors should also note any recent changes to analyst estimates for MYR Group. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MYR Group currently has a Zacks Rank of #2 (Buy).
Investors should also note MYR Group's current valuation metrics, including its Forward P/E ratio of 23.7. Its industry sports an average Forward P/E of 23.7, so we one might conclude that MYR Group is trading at a no noticeable deviation comparatively.
The Electric Construction industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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MYR Group, Inc. (MYRG) : Free Stock Analysis Report
