MYR Group (NASDAQ:MYRG) Posts Quarterly Earnings Results, Beats Estimates By $0.34 EPS
MYR Group (NASDAQ:MYRG) issued its earnings results on Wednesday. The utilities provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.46 by $0.34, MarketWatch Earnings reports. The company had revenue of $513.05 million during the quarter, compared to analysts’ expectations of $503.07 million. MYR Group had a net margin of 2.12% and a return on equity of 12.56%.
Shares of NASDAQ:MYRG opened at $36.67 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.47 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $612.76 million, a PE ratio of 13.24 and a beta of 0.79. MYR Group has a twelve month low of $16.33 and a twelve month high of $38.85. The company has a 50-day moving average price of $30.79 and a two-hundred day moving average price of $28.16.
In other news, Director William A. Koertner sold 5,377 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $35.00, for a total value of $188,195.00. Following the completion of the transaction, the director now directly owns 286,884 shares in the company, valued at $10,040,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is currently owned by company insiders.
MYR Group Company Profile
MYR Group Inc, through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The Transmission and Distribution segment offers a range of services on electric transmission and distribution networks, and substation facilities, including design, engineering, procurement, construction, upgrade, maintenance, and repair services with primary focus on construction, maintenance, and repair to customers in the electric utility industry.
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