MYR Group (NASDAQ:MYRG) Stock, Quote.Headers.trade-ideas

MYR Group

MYR Group Inc is a U.S.-based holding company that provides specialty electrical construction services through its subsidiaries. The company operates through two segments. The transmission and distribution segment provides designing, engineering, procurement, construction, upgrade, maintenance, and repair services on transmission and distribution network and substation facilities. The commercial and industrial segment provides services such as the design, installation, maintenance, and repair of commercial and industrial wiring, installation of traffic networks, and the installation of bridges. MYR Group generates the majority of its sales from the United States and Canada.

Earnings

News

Options

Small Cap

Markets

Analyst Ratings

Trading Ideas

MYRG

Investors in MYR Group Inc. (NASDAQ: MYRG) need to pay close attention to the stock based on moves in the options market lately. That is because the Oct 18, 2024 $125 Call had some of the highest implied volatility of all equity options today.

Is the Options Market Predicting a Spike in MYR Group Stock?

wall-street-ai15

Long Ideas

Insider Trades

Pre-Market Outlook

MRCY

Around $2M Bet On HighPeak Energy? Check Out These 3 Stocks Executives Are Buying

artificial intelligence ai2

Analyst Color

Equities

Large Cap

Mid Cap

Commodities

Tech

FLNC

FSLR

Goldman Sachs predicts significant growth in US power demand due to AI data centers, leading to $50B investment in power generation by 2030.

AI Data Centers Drive Electricity Demand: Goldman Sachs Picks 16 Stocks To Play The Trend

MYR Group Inc

<p>Goldman Sachs  analyst Ati Modak   maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Buy and lowers the price target from $182 to $124.</p>


Price Target

Goldman Sachs Maintains Buy on MYR Group, Lowers Price Target to $124

<p>Investors in <strong>MYR Group Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/myrg#NASDAQ">MYRG</a>) need to pay close attention to the stock based on moves in the options market lately. That is because the Oct 18, 2024 $125 Call had some of the highest implied volatility of all equity options today.</p>
<h2><strong>What is Implied Volatility?</strong></h2>
<p>Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.</p>
<h2><strong>What do the Analysts Think?</strong></h2>
<p>Clearly, options traders are pricing in a big move for MYR Group shares, but what is the fundamental picture for the company? Currently, MYR Group is a Zacks Rank #5 (Strong Buy) in the Electric Construction industry that ranks in the Bottom 1% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised its estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from $1.52 per share to 79 cents per share in that period.</p>
<p>Given the way analysts feel about MYR Group right now, this huge implied volatility could mean there&#39;s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.</p>
<p><a href="https://www.zacks.com/stock/news/2332758/is-the-options-market-predicting-a-spike-in-myr-group-myrg-stock?cid=CS-BENZ-FT-tale_of_the_tape|options-2332758">To read this article on Zacks.com click here.</a></p>


<p>Although U.S. stocks closed mixed on Thursday, there were a few notable insider trades.</p>
<p>When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.</p>
<p>Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.</p>
<h3 class="wp-block-heading"><strong>HighPeak Energy</strong></h3>
<ul>
<li><strong>The Trade: HighPeak Energy, Inc. </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HPK#NASDAQ">HPK</a>) CEO Jack Hightower <a href="https://www.benzinga.com/quote/hpk/analyst-ratings">acquired a total of 132,487 shares at</a>  an average price of $15.45. To acquire these shares, it cost around $2.05 million.</li>
<li><strong>What's Happening:</strong> On Aug. 5, HighPeak Energy posted downbeat quarterly results.</li>
<li><strong>What HighPeak Energy Does:</strong> HighPeak Energy Inc is an independent oil and natural gas company focused on the development of unconventional oil and natural gas reserves in Howard County of the Midland Basin.</li>
</ul>
<h3 class="wp-block-heading"><strong>Mercury Systems</strong></h3>
<ul>
<li><strong>The Trade:</strong> <strong>Mercury Systems, Inc. </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) 10% owner Jana Partners Management, LP acquired a total of 13,600 shares at an average price of $37.25. To acquire these shares, it cost around $506,600.</li>
<li><strong>What's Happening:</strong> On Aug. 19, Alembic Global analyst Peter Skibitski upgraded Mercury Systems from Neutral to Overweight.</li>
<li><strong>What Mercury Systems Does:</strong> Mercury Systems Inc is a commercial technology company serving the aerospace and defense industry.</li>
</ul>
<h3 class="wp-block-heading"><strong>MYR Group</strong></h3>
<ul>
<li><strong>The Trade:</strong> <strong>MYR Group Inc. </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) Director Bradley Thede Favreau <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 1,005 shares</a> at an average price of $99.70. To acquire these shares, it cost around $100,199.</li>
<li><strong>What's Happening:</strong> On July 31, MYR Group reported worse-than-expected quarterly financial results.</li>
<li><strong>What MYR Group Does:</strong> MYR Group Inc is a U.S.-based holding company that provides specialty electrical construction services through its subsidiaries. </li>
</ul>
<p>R<strong>ead Next: </strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/24/08/40624754/top-2-materials-stocks-that-are-ticking-portfolio-bombs">Top 2 Materials Stocks That Are Ticking Portfolio Bombs</a></strong></li>
</ul>


<p>Stifel  analyst Brian Brophy   maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Buy and lowers the price target from $172 to $119.</p>


Stifel Maintains Buy on MYR Group, Lowers Price Target to $119

WIIM

ALTG

ARIS

ARRY

ASLE

ATKR

AXON

CAAP

CAPT

CARR

CDLR

CHRW

CMPR

CNTM

DRVN

Embraer-Empresa Brasileira De Aeronautica

EVEX

EXPD

FTAI

FWRD

GWAV

HUBB

HYLN

HYZN

JOBY

LICN

NCNC

NKLA

NVRI

PRIM

REZI

ROCK

RUSHA

RUSHB

SHLS

STAF

TFII

TOMZ

TPIC

ULCC

WLFC

XPON

Shares of companies within the broader industrial sector are trading lower amid overall market weakness following weak US data.

MYR Group shares are trading lower after the company reported worse-than-expected Q2 financial results. Also, Baird maintained an Outperform rating on the stock but lowered its price target from $170 to $143.

<p>Baird  analyst Justin Hauke   maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Outperform and lowers the price target from $170 to $143.</p>


Baird Maintains Outperform on MYR Group, Lowers Price Target to $143

<p>MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) reported quarterly losses of $(0.91) per share which missed the analyst consensus estimate of $1.13 by 180.53 percent.  The company reported quarterly sales of $828.890 million which missed the analyst consensus estimate of $876.070 million by 5.39 percent.  This is a 6.72 percent decrease over sales of $888.616 million the same period last year.</p>


Earnings Misses

MYR Group Q2 2024 GAAP EPS $(0.91) Misses $1.13 Estimate, Sales $828.890M Miss $876.070M Estimate

AMRC

BBCP

BECN

FBIN

FLUX

GTEC

HOVR

IESC

LGCL

LNZA

MNTS

PDYN

SITE

SPLP

TGLS

VSTE

WFCF

Shares of companies within the broader industrial sector are trading higher following recent CPI data.

Buybacks

MYR Group Announces $75M Share Repurchase Program

<p>Ratings for MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.</p>
<p>Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Analysts have recently evaluated MYR Group and provided 12-month price targets. The average target is $178.5, accompanied by a high estimate of $185.00 and a low estimate of $165.00. Observing a 1.56% increase, the current average has risen from the previous average price target of $175.75. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1714676446_0.png" alt="price target chart" /></p>
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
<p>The perception of MYR Group by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Justin Hauke</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$180.00</td>
<td>$185.00</td>
</tr>
<tr>
<td>Stanley Elliott</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$184.00</td>
<td>$185.00</td>
</tr>
<tr>
<td>Stanley Elliott</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$185.00</td>
<td>$168.00</td>
</tr>
<tr>
<td>Brian Russo</td>
<td>Sidoti &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$165.00</td>
<td>$165.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to MYR Group. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li><strong>Rating:</strong> Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of MYR Group compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts explore the dynamics of price targets, providing estimates for the future value of MYR Group's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
<p>For valuable insights into MYR Group's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/MYRG/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on MYR Group analyst ratings.</strong></a></p>
<h2>Discovering MYR Group: A Closer Look</h2>
<p>MYR Group Inc is a U.S.-based holding company that provides specialty electrical construction services through its subsidiaries. The company operates through two segments. The transmission and distribution segment provides designing, engineering, procurement, construction, upgrade, maintenance, and repair services on transmission and distribution network and substation facilities. The commercial and industrial segment provides services such as the design, installation, maintenance, and repair of commercial and industrial wiring, installation of traffic networks, and the installation of bridges. MYR Group generates the majority of its sales from the United States and Canada.</p>
<h3>A Deep Dive into MYR Group's Financials</h3>
<p><strong>Market Capitalization Analysis:</strong> The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.</p>
<p><strong>Positive Revenue Trend:</strong> Examining MYR Group's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of <strong>16.23%</strong> as of 31 December, 2023, showcasing a substantial increase in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Industrials sector.</p>
<p><strong>Net Margin:</strong> MYR Group's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of <strong>2.39%,</strong> the company may encounter challenges in effective cost control.</p>
<p><strong>Return on Equity (ROE):</strong> MYR Group's ROE excels beyond industry benchmarks, reaching <strong>3.77%</strong>. This signifies robust financial management and efficient use of shareholder equity capital.</p>
<p><strong>Return on Assets (ROA):</strong> MYR Group's ROA stands out, surpassing industry averages. With an impressive ROA of <strong>1.53%</strong>, the company demonstrates effective utilization of assets and strong financial performance.</p>
<p><strong>Debt Management:</strong> MYR Group's debt-to-equity ratio is below the industry average. With a ratio of <b>0.11</b>, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.</p>
<h2>Understanding the Relevance of Analyst Ratings</h2>
<p>Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.</p>
<p>Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.</p>
<p>Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


The Analyst Landscape: 4 Takes On MYR Group

MYR Group shares are trading lower after the company reported worse-than-expected Q1 financial results. Also, Baird maintained an Outperform rating on the stock and lowered its price target from $185 to $180.

<p>Baird  analyst Justin Hauke   maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Outperform and lowers the price target from $185 to $180.</p>


Baird Maintains Outperform on MYR Group, Lowers Price Target to $180

<p>MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) reported quarterly earnings of $1.12 per share which missed the analyst consensus estimate of $1.19 by 5.88 percent. This is a 18.84 percent decrease over earnings of $1.38 per share from the same period last year.  The company reported quarterly sales of $815.562 million which missed the analyst consensus estimate of $854.134 million by 4.52 percent.  This is a 0.49 percent increase over sales of $811.616 million the same period last year.</p>


MYR Group Q1 2024 GAAP EPS $1.12 Misses $1.19 Estimate, Sales $815.562M Miss $854.134M Estimate

<p>Escalating electricity needs from running AI data centers will create downstream investment benefits in the utilities, renewable energy generation, and industrial sectors, according to Goldman Sachs. </p>
<p>In a recently published study, equity analyst Carly Davenport has listed a basket of stocks positioned to benefit from the potential massive surge <a href="https://www.benzinga.com/topic/artificial-intelligence">in U.S. power demand. </a></p>
<p>The investment bank forecasts that data center power demand will grow at 15% compound annual growth rate from 2023-2030. This growth trajectory is expected to elevate data centers&#8217; share of total US power demand to 8% by 2030, up from the current level of approximately 3%.</p>
<p>The &#8220;U.S. power demand (is) likely to experience growth not seen in a generation. Not since the start of the century has US electricity demand grown 2.4% over an eight-year period, with US annual power generation over the last 20 years averaging less than 0.5% growth,&#8221; Goldman Sachs highlights.  </p>
<p>Analysts estimate that about 47 GW of additional power generation capacity will be necessary to accommodate the growth in U.S. data center power demand by 2030. This demand is anticipated to be met by approximately 60% gas and 40% renewable sources. </p>
<p>The projection suggests that this trend will drive approximately $50 billion in capital investment in U.S. power generation capacity by 2030.</p>
<p>Goldman Sachs has pinpointed 16 stocks rated as &#8220;buy&#8221; across various sectors, including Utility, Clean Technology, Midstream, Energy Services, Industrials, and Industrial Tech. </p>
<p>The highlighted stocks are as follows:</p>
<h3 class="wp-block-heading">Power Demand Growth Beneficiaries</h3>
<ul>
<li><strong>Vertiv Holdings Plc</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NASDAQ">VRT</a>): Solid market presence in thermal cooling and power management offerings.</li>
<li><strong>NextEra Energy</strong> <strong>Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>): Renewable sector strategically positioned for AI data loads and available interconnection queues.</li>
<li><strong>Cameco Corporation </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>): Provider of clean energy storage solutions for data centers&#8217; backup power needs.</li>
<li><strong>EQT Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>): Beneficiary of rising nuclear power capacity as a uranium producer and nuclear fuel supplier.</li>
<li><strong>Fluence Energy Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNC#NASDAQ">FLNC</a>): Natural gas producer poised to capitalize on heightened demand resulting from electric load expansion.</li>
</ul>
<h3 class="wp-block-heading">Power Generation Capacity Additions</h3>
<ul>
<li><strong>Xcel Energy Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>): Regulated utility exposed to power generation needs to support data center growth in Midwest Independent Transmission System Operator. </li>
<li><strong>First Solar Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>): Primary manufacturer and supplier of solar panels for utility-scale solar farms across the United States.</li>
<li><strong>Southern Company </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>): Regionally positioned regulated utility poised to meet the escalating demand from data centers through strategic investment in generation.</li>
<li><strong>GE Vernova</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>): Positioned to profit from sustained growth trends as a supplier of power generation assets.</li>
</ul>
<h3 class="wp-block-heading">Power Infrastructure Investment Needs</h3>
<ul>
<li><strong>Quanta Services Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>): Specialty contractor specializing in utilities construction, poised to reap rewards from increased electricity demand.</li>
<li><strong>MYR Group Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>): Involved in data centers through transmission and distribution (T&amp;D) projects, establishing prominence as a key player in electrical contracting.</li>
<li><strong>DBA Sempra</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>): Utility allocating substantial capital expenditure on T&amp;D infrastructure to bolster the expansion of data centers in Texas.</li>
<li><strong>Kinder Morgan</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>): The leading operator of natural gas pipelines in the United States, set to profit from the rising demand for gas-fired generation.</li>
</ul>
<h3 class="wp-block-heading">Industrial Supply Chain Beneficiaries</h3>
<ul>
<li><strong>Eaton Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>): Manufacturer of electrical components poised to capitalize on the sustained increase in power demand.</li>
<li><strong>nVent Electric plc</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVT#NYSE">NVT</a>): Key player in liquid cooling technology, forecasting double-digit business growth within the Data Solutions sector.</li>
<li><strong>Caterpillar Inc</strong>. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>): Construction equipment company capable of supplying generator sets to data centers for backup power needs.</li>
</ul>
<p><strong>AI Data Centers&#8217; Demand Set To Triple By 2030</strong>: After experiencing relatively flat growth from 2015 to 2019, Goldman Sachs anticipates that power demand from data centers will more than triple by 2030 compared to 2020 levels. </p>
<p>According to analyst estimates, there is an upside scenario where demand could more than double the base case, influenced partly by improvements in product efficiencies and increased demand for AI-related technologies.</p>
<p>&#8220;There could be meaningful upside to our base case if appetite for purchase and utilization of servers is unconstrained,&#8221; Davenport stated. </p>
<p>&#8220;There could be downside to our base case if power efficiency is higher than expected or if power/compute speed efficiencies lead to fewer servers purchased than expected,&#8221; the analyst added. </p>
<p><em>Read now:<a href="https://www.benzinga.com/markets/asia/24/04/38494691/japan-intervenes-to-support-struggling-yen-why-did-it-trigger-nikkei-225-dip-4-charts-to-watch"> Japan Intervenes To Support Struggling Yen: Why Did It Trigger Nikkei 225 Dip? 4 Charts To Watch</a></em></p>
<p><em>Image generated using artificial intelligence via Midjourney.</em></p>


<p>Stifel  analyst Stanley Elliott   maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Buy and lowers the price target from $185 to $184.</p>


Stifel Maintains Buy on MYR Group, Lowers Price Target to $184

<p>In the preceding three months, 4 analysts have released ratings for MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>), presenting a wide array of perspectives from bullish to bearish.</p>
<p>The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $170.5, with a high estimate of $185.00 and a low estimate of $164.00. Witnessing a positive shift, the current average has risen by 7.23% from the previous average price target of $159.00.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1709301634_0.png" alt="price target chart" /></p>
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
<p>A comprehensive examination of how financial experts perceive MYR Group is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Stanley Elliott</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$185.00</td>
<td>$168.00</td>
</tr>
<tr>
<td>Brian Russo</td>
<td>Sidoti &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$165.00</td>
<td>$165.00</td>
</tr>
<tr>
<td>Stanley Elliott</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$168.00</td>
<td>$144.00</td>
</tr>
<tr>
<td>Ati Modak</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Buy</td>
<td>$164.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to MYR Group. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li><strong>Rating:</strong> Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of MYR Group compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts explore the dynamics of price targets, providing estimates for the future value of MYR Group's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
<p>Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into MYR Group's market standing. Stay informed and make well-considered decisions with our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/MYRG/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on MYR Group analyst ratings.</strong></a></p>
<h2>All You Need to Know About MYR Group</h2>
<p>MYR Group Inc is a U.S.-based holding company that provides specialty electrical construction services through its subsidiaries. The company operates through two segments. The transmission and distribution segment provides designing, engineering, procurement, construction, upgrade, maintenance, and repair services on transmission and distribution network and substation facilities. The commercial and industrial segment provides services such as the design, installation, maintenance, and repair of commercial and industrial wiring, installation of traffic networks, and the installation of bridges. MYR Group generates the majority of its sales from the United States and Canada.</p>
<h3>MYR Group: Financial Performance Dissected</h3>
<p><strong>Market Capitalization Analysis:</strong> Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.</p>
<p><strong>Revenue Growth:</strong> MYR Group's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2023, the company achieved a revenue growth rate of approximately <strong>17.46%</strong>. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Industrials sector, the company excelled with a growth rate higher than the average among peers.</p>
<p><strong>Net Margin:</strong> The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of <strong>2.29%,</strong> the company may need to address challenges in effective cost control.</p>
<p><strong>Return on Equity (ROE):</strong> MYR Group's ROE stands out, surpassing industry averages. With an impressive ROE of <strong>3.5%</strong>, the company demonstrates effective use of equity capital and strong financial performance.</p>
<p><strong>Return on Assets (ROA):</strong> MYR Group's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive <strong>1.42%</strong> ROA, the company effectively utilizes its assets for optimal returns.</p>
<p><strong>Debt Management:</strong> The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at <strong>0.15</strong>.</p>
<h2>The Basics of Analyst Ratings</h2>
<p>Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.</p>
<p>In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Where MYR Group Stands With Analysts

<p>Stifel  analyst Stanley Elliott   maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Buy and raises the price target from $168 to $185.</p>


Stifel Maintains Buy on MYR Group, Raises Price Target to $185

<p><strong>MYR Group</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) reported its Q4 earnings results on Wednesday, February 28, 2024 at 04:08 PM.</p>
<p>Here's what investors need to know about the announcement.</p>
<h3>Earnings</h3>
<p>MYR Group missed estimated earnings by -5.0%, reporting an EPS of $1.43 versus an estimate of $1.5.</p>
<p>Revenue was up $140.04 million from the same period last year.</p>
<h3>Past Earnings Performance</h3>
<p>Last quarter the company missed on EPS by $0.02 which was followed by a 4.0% drop in the share price the next day.</p>
<p>Here's a look at MYR Group's past performance:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q3 2023</strong></th>
<th><strong>Q2 2023</strong></th>
<th><strong>Q1 2023</strong></th>
<th><strong>Q4 2022</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>1.30</td>
<td>1.28</td>
<td>1.01</td>
<td>1.08</td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>1.28</td>
<td>1.33</td>
<td>1.32</td>
<td>1.46</td>
</tr>
<tr>
<td><strong>Revenue Estimate</strong></td>
<td>877.48M</td>
<td>781.78M</td>
<td>721.21M</td>
<td>741.45M</td>
</tr>
<tr>
<td><strong>Revenue Actual</strong></td>
<td>939.48M</td>
<td>888.62M</td>
<td>811.62M</td>
<td>863.96M</td>
</tr>
</tbody>
</table>
</p>
<p>To track all earnings releases for MYR Group <a href="https://www.benzinga.com/quote/MYRG/earnings">visit their earnings calendar here.</a> </p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Recap: MYR Group Q4 Earnings

<p>MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) reported quarterly earnings of $1.43 per share which missed the analyst consensus estimate of $1.49 by 4.03 percent.  The company reported quarterly sales of $1.00 billion which beat the analyst consensus estimate of $904.76 million by 10.97 percent.  This is a 16.21 percent increase over sales of $863.96 million the same period last year.</p>


Earnings Beats

MYR Group Q4 2023 GAAP EPS $1.43 Misses $1.49 Estimate, Sales $1.00B Beat $904.76M Estimate

Warning: MYRG is at high risk of performing badly

Third Avenue Small Cap Value Fund Q2 2024 Commentary

MYR GAAP EPS of -$0.91 misses by $2.04, revenue of $828.9M misses by $47.17M

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><strong>MYR Group</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/myrg-stock-quote/"><strong>MYRG</strong></a></span>) just reported results for the second quarter of 2024.</p><ul><li>MYR Group reported earnings per share of -91 cents. This was below the analyst estimate for EPS of $1.13.</li><li>The company reported revenue of $828.89 million.</li><li>This was 5.50% worse than the analyst estimate for revenue of $877.13 million.</li></ul><div><p>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul><p>The post <a href="https://investorplace.com/earning-results/2024/07/myrg-stock-earnings-myr-group-for-q2-of-2024/">MYRG Stock Earnings: MYR Group Misses EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

MYRG Stock Earnings: MYR Group Misses EPS, Misses Revenue for Q2 2024

KeyBanc analyst Sangita Jain maintained a Hold rating on MYR Group (MYRG – Research Report) today. The company's shares closed yesterday at $140.48...

MYR Group (MYRG) Gets a Hold from KeyBanc

There's a lot to be optimistic about in the Industrial Goods sector as 3 analysts just weighed in on GFL Environmental (GFL – Research Report), MYR...

Analysts Offer Insights on Industrial Goods Companies: GFL Environmental (GFL), MYR Group (MYRG) and Rolls-Royce Holdings (OtherRYCEF)

MYR Group Inc. (MYRG) Q2 2024 Earnings Call Transcript

In a report released today, Brian Brophy from Stifel Nicolaus maintained a Buy rating on MYR Group (MYRG – Research Report), with a price target of...

Stifel Nicolaus Sticks to Their Buy Rating for MYR Group (MYRG)

The 1-Minute Market Report August 3, 2024

MYR Group (MYRG) has shared an announcement. MYR Group Inc. has updated its investor relations website with new presentation materials that managem...

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

MYR Group

MYR Group (MYRG) Forecast

MYR Group (NASDAQ:MYRG) Stock, Quote.Headers.trade-ideas