MYR Group (MYRG) Receiving Somewhat Positive News Coverage, Report Finds

News stories about MYR Group (NASDAQ:MYRG) have been trending somewhat positive this week, Accern reports. The research firm rates the sentiment of press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. MYR Group earned a news sentiment score of 0.16 on Accern’s scale. Accern also gave news coverage about the utilities provider an impact score of 45.5313627842144 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

Several equities research analysts have issued reports on MYRG shares. Robert W. Baird restated a “buy” rating and set a $34.00 price objective on shares of MYR Group in a research report on Tuesday, September 5th. KeyCorp reaffirmed a “hold” rating on shares of MYR Group in a report on Friday, September 8th. TheStreet raised shares of MYR Group from a “c+” rating to a “b-” rating in a report on Thursday, November 16th. FBR & Co lowered their target price on shares of MYR Group from $37.00 to $28.00 and set a “market perform” rating on the stock in a report on Friday, August 18th. Finally, B. Riley raised their target price on shares of MYR Group from $28.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, November 16th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. MYR Group presently has an average rating of “Hold” and a consensus price target of $32.40.

Shares of MYR Group (NASDAQ MYRG) traded down $0.37 on Friday, hitting $35.19. 93,633 shares of the stock traded hands, compared to its average volume of 111,507. MYR Group has a 12 month low of $23.00 and a 12 month high of $43.77. The company has a market capitalization of $579.30, a PE ratio of 37.84 and a beta of 0.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.84.

MYR Group (NASDAQ:MYRG) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.17). MYR Group had a return on equity of 5.76% and a net margin of 1.12%. The business had revenue of $373.50 million for the quarter, compared to the consensus estimate of $350.80 million. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. sell-side analysts forecast that MYR Group will post 0.79 EPS for the current year.

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MYR Group Company Profile

MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.

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