MYR Group Inc reports results for the quarter ended in March - Earnings Summary

Myr

02/05/2024 24:01

* MYR Group Inc  MYRG.OQ  reported quarterly adjusted
earnings of
$1.12​​ per share for the quarter ended in March, lower than the
same quarter last year, when the company reported EPS of $1.38. 
The mean expectation of six analysts for the quarter was
for earnings of $1.16 per share. Wall Street expected results to
range from $1.02  to $1.25 per share.
    * Revenue rose 0.5% to $815.56 million from a year ago;
analysts
expected $854.13 million. 
    * MYR Group Inc's reported EPS for the quarter was $1.12​.
    * The company reported quarterly net income of $18.94
million.
    * MYR Group Inc shares had fallen by 5.9% this quarter and
gained 14.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 15.4%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the construction
&
engineering peer group is also "buy"

Wall Street's median 12-month price target for MYR Group Inc is
$184.50 
This summary was machine generated from LSEG data May 1 at 11:01
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.16           1.12           Missed
 Dec. 31 2023      1.50           1.43           Missed
 Sep. 30 2023      1.30           1.28           Missed
 Jun. 30 2023      1.28           1.33           Beat