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MYR Group (MYRG) Stock Sinks As Market Gains: What You Should Know

MYR Group (MYRG) closed the most recent trading day at $137.69, moving -1.52% from the previous trading session. This change lagged the S&P 500's 0.62% gain on the day. At the same time, the Dow added 0.5%, and the tech-heavy Nasdaq lost 5.66%.

Heading into today, shares of the electrical construction services provider had gained 3.92% over the past month, outpacing the Utilities sector's loss of 3.21% and the S&P 500's gain of 3.44% in that time.

Investors will be hoping for strength from MYR Group as it approaches its next earnings release. On that day, MYR Group is projected to report earnings of $1.28 per share, which would represent year-over-year growth of 11.3%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $813.5 million, up 14.88% from the year-ago period.

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.

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Any recent changes to analyst estimates for MYR Group should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MYR Group is currently sporting a Zacks Rank of #2 (Buy).

Looking at its valuation, MYR Group is holding a Forward P/E ratio of 24.06. Its industry sports an average Forward P/E of 24.06, so we one might conclude that MYR Group is trading at a no noticeable deviation comparatively.

The Electric Construction industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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MYR Group, Inc. (MYRG) : Free Stock Analysis Report

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