What is KeyCorp’s Forecast for MYR Group Q1 Earnings?

MYR Group Inc. (NASDAQ:MYRG) – Equities researchers at KeyCorp issued their Q1 2025 earnings estimates for shares of MYR Group in a research note issued to investors on Thursday, March 13th. KeyCorp analyst S. Jain anticipates that the utilities provider will post earnings per share of $1.14 for the quarter. KeyCorp currently has a “Overweight” rating and a $136.00 target price on the stock. The consensus estimate for MYR Group’s current full-year earnings is $1.16 per share.

Several other analysts have also commented on MYRG. Robert W. Baird decreased their price objective on MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus raised their price target on MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.00.

MYR Group Trading Up 2.8 %

NASDAQ:MYRG opened at $120.50 on Monday. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 52.62 and a beta of 0.93. MYR Group has a 52 week low of $86.60 and a 52 week high of $181.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $134.60 and a 200 day moving average of $131.90.

Hedge Funds Weigh In On MYR Group

Several hedge funds have recently made changes to their positions in the company. MCF Advisors LLC grew its stake in MYR Group by 470.0% during the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in MYR Group in the fourth quarter valued at approximately $47,000. Smartleaf Asset Management LLC raised its position in MYR Group by 697.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock worth $49,000 after buying an additional 286 shares during the last quarter. GAMMA Investing LLC lifted its stake in MYR Group by 27.0% during the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock valued at $83,000 after acquiring an additional 118 shares during the period. Finally, ANTIPODES PARTNERS Ltd boosted its holdings in shares of MYR Group by 13.2% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider’s stock valued at $92,000 after acquiring an additional 72 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

About MYR Group

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; and services, including construction and maintenance of high voltage transmission lines, substations, and lower voltage underground and overhead distribution systems, clean energy projects, and electric vehicle charging infrastructure services, as well as emergency restoration services in response to hurricane, wildfire, ice, or other related damages.