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MYR Group (MYRG) Gains But Lags Market: What You Should Know
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In the latest trading session, MYR Group (MYRG - Free Report) closed at $127.83, marking a +0.26% move from the previous day. This move lagged the S&P 500's daily gain of 0.99%.
Prior to today's trading, shares of the electrical construction services provider had lost 3.79% over the past month. This has was narrower than the Utilities sector's loss of 5.04% and lagged the S&P 500's gain of 0.42% in that time.
Investors will be hoping for strength from MYR Group as it approaches its next earnings release. 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, our latest consensus estimate is calling for revenue of $813.5 million, up 14.88% from the prior-year quarter.
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.
Any recent changes to analyst estimates for MYR Group 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 remained stagnant. MYR Group is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, MYR Group currently has a Forward P/E ratio of 21.94. This represents a no noticeable deviation compared to its industry's average Forward P/E of 21.94.
The Electric Construction industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 8, which puts it in the top 4% 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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MYR Group (MYRG) Gains But Lags Market: What You Should Know
In the latest trading session, MYR Group (MYRG - Free Report) closed at $127.83, marking a +0.26% move from the previous day. This move lagged the S&P 500's daily gain of 0.99%.
Prior to today's trading, shares of the electrical construction services provider had lost 3.79% over the past month. This has was narrower than the Utilities sector's loss of 5.04% and lagged the S&P 500's gain of 0.42% in that time.
Investors will be hoping for strength from MYR Group as it approaches its next earnings release. 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, our latest consensus estimate is calling for revenue of $813.5 million, up 14.88% from the prior-year quarter.
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.
Any recent changes to analyst estimates for MYR Group 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 remained stagnant. MYR Group is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, MYR Group currently has a Forward P/E ratio of 21.94. This represents a no noticeable deviation compared to its industry's average Forward P/E of 21.94.
The Electric Construction industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 8, which puts it in the top 4% 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.