MYR Group Inc., through its subsidiaries, provides electrical construction services in the United States and Canada. It operates through two segments, Transmission and Distribution, and Commercial and Industrial. The company's 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. Its services include construction and maintenance of high voltage transmission lines, substations, and lower voltage underground and overhead distribution systems, and renewable power facilities; and limited gas construction services, as well as emergency restoration services in response to hurricane, ice, or other storm related damages. This segment serves as a prime contractor to customers, such as investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners, and other contractors. Its Commercial and Industrial segment provides services, such as design, installation, maintenance, and repair of commercial and industrial wiring; and installation of traffic networks, bridge, roadway, and tunnel lighting. This segment offers its services for airports, hospitals, data centers, hotels, stadiums, convention centers, renewable energy projects, manufacturing plants, processing facilities, waste-water treatment facilities, mining facilities, and transportation control and management systems. It serves general contractors, commercial and industrial facility owners, governmental agencies, and developers. MYR Group Inc. was founded in 1891 and is headquartered in Henderson, Colorado.
IPO Year: 2008
Exchange: NASDAQ
Website: myrgroup.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/26/2024 | $165.00 | Buy → Neutral | Sidoti |
| 1/10/2024 | Sector Weight | KeyBanc Capital Markets | |
| 12/15/2023 | $164.00 | Buy | Goldman |
| 11/16/2023 | $144.00 | Buy | Stifel |
| 10/17/2023 | Neutral → Buy | Sidoti | |
| 7/19/2023 | $163.00 | Buy → Neutral | Sidoti |
| 1/17/2023 | Overweight → Sector Weight | KeyBanc Capital Markets | |
| 10/28/2022 | $99.00 | Sector Weight → Overweight | KeyBanc Capital Markets |
| 10/28/2022 | $92.00 → $95.00 | Neutral → Outperform | Robert W. Baird |
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SCOTTSDALE, Ariz., Nov. 07, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (TPI) (NASDAQ:TPIC) announced today that Jennifer Lowry will be appointed to its board of directors, effective as of November 13, 2024. Ms. Lowry also will serve on the Audit Committee of the Board. Ms. Lowry brings many years of broad finance experience in the electric power industry. "We are excited to have Jen join our board," said Bill Siwek, TPI's President and CEO. "We will greatly benefit from Jen's experience in the electric power industry to help support our long-term strategy." Ms. Lowry currently serves as an independent director of Clearway Energy, Inc. (NYSE:CWEN) since February 2022 and MYR Group Inc.
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced the appointment of Lance Rosenzweig as the Company's permanent Chief Executive Officer ("CEO"), effective immediately. The Company's Board of Directors (the "Board") carried out an extensive CEO search process that was supported by a nationally recognized executive recruiting firm and included both internal and external candidates. After assessing Mr. Rosenzweig's considerable contributions as interim CEO and his track record of value creation at Pitney Bowes and at other co
THORNTON, Colo., March 27, 2023 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group" or the "Company") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today that as part of a planned leadership succession process, Jeffrey J. "Jeff" Waneka notified the Company of his decision to retire as Senior Vice President and Chief Operating Officer of MYR Group's Commercial and Industrial ("C&I") segment, effective May 1, 2023. Mr. Waneka will remain in an advisory role with the Company to assist with an orderly transition of his duties. Mr. Waneka will b
THORNTON, Colo., Jan. 09, 2023 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group" or the "Company") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today that as part of a planned leadership succession process, Betty R. Johnson notified the Board of Directors of her decision to retire as Senior Vice President and Chief Financial Officer of the Company, effective on February 24, 2023. Ms. Johnson will be succeeded by Kelly Huntington, who will assume the role of Senior Vice President on January 9, 2023 and the role of Senior Vice President &
HENDERSON, Colo., May 02, 2022 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group" or the "Company") (NASDAQ:MYRG), announced today the appointment of Ajoy H. Karna to the Company's Board of Directors (the "Board"), effective May 2, 2022. Mr. Karna will serve as a Class III director and on the Board's Audit Committee. "We are excited to announce Ajoy's appointment as a new member of our Board of Directors," said MYR Group's Chair of the Board, Kenneth M. Hartwick. "Ajoy brings diverse expertise and strong leadership skills. His financial and strategic experience with global organizations will offer a unique perspective to our Board. We welcome Ajoy in his new role and look forward to his co
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THORNTON, Colo., Nov. 13, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will participate in the Oppenheimer Midwest Virtual Summit. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will virtually meet with institutional investors during the Oppenheimer Midwest Virtual Summit investor conference on Wednesday, Dec. 11, 2024. This event is only available to Oppenheimer clients. About MYR Group Inc.MYR Group is a holding company of leadi
THORNTON, Colo., Nov. 07, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Janney 2nd Annual Clean Energy Investment Symposium. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the Janney Clean Energy Investment Symposium investor conference on Thursday, Dec. 5, 2024, in New Orleans. This event is only available to Janney clients. About MYR Group Inc.MYR Group is a holding co
SCOTTSDALE, Ariz., Nov. 07, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (TPI) (NASDAQ:TPIC) announced today that Jennifer Lowry will be appointed to its board of directors, effective as of November 13, 2024. Ms. Lowry also will serve on the Audit Committee of the Board. Ms. Lowry brings many years of broad finance experience in the electric power industry. "We are excited to have Jen join our board," said Bill Siwek, TPI's President and CEO. "We will greatly benefit from Jen's experience in the electric power industry to help support our long-term strategy." Ms. Lowry currently serves as an independent director of Clearway Energy, Inc. (NYSE:CWEN) since February 2022 and MYR Group Inc.
THORNTON, Colo., Nov. 06, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the UBS Global Industrials and Transportation Conference. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the UBS Global Industrials and Transportation investor conference on Wednesday, Dec. 4, 2024, in Palm Beach, Fla. This event is only available to UBS clients. About MYR Group Inc.MYR Group is a holdin
THORNTON, Colo., Oct. 30, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its third-quarter and first nine-months 2024 financial results. Highlights for Third Quarter 2024 Quarterly revenues of $888.0 millionQuarterly net income of $10.6 million, or $0.65 per diluted shareQuarterly EBITDA of $37.2 millionBacklog of $2.60 billion Management CommentsRick Swartz, MYR's President and CEO, said, "Our core markets remain active, and bidding activity continued at a robust pace during the qu
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced the appointment of Lance Rosenzweig as the Company's permanent Chief Executive Officer ("CEO"), effective immediately. The Company's Board of Directors (the "Board") carried out an extensive CEO search process that was supported by a nationally recognized executive recruiting firm and included both internal and external candidates. After assessing Mr. Rosenzweig's considerable contributions as interim CEO and his track record of value creation at Pitney Bowes and at other co
THORNTON, Colo., Oct. 23, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the 2024 Stephens Annual Investment Conference. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the Stephens Annual Investment conference on Wednesday, Nov. 20, 2024, in Nashville, Tenn. This event is only available to Stephens clients. About MYR Group Inc.MYR Group is a holding company of leading, specia
THORNTON, Colo., Oct. 16, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will release its third-quarter 2024 results on Wednesday, Oct. 30, 2024, after the market closes. In conjunction with the release, MYR Group has scheduled a conference call and simultaneous webcast to discuss results on Thursday, Oct. 31, 2024, at 8:00 a.m. Mountain time. To participate via telephone and join the call live, please register in advance here: https://register.vevent.com/register/BIcf56e5d4dfbd47a
THORNTON, Colo., Oct. 11, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Baird 2024 Global Industrial Conference. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the Baird Global Industrial investor conference on Tuesday, Nov. 12, 2024, in Chicago. This event is only available to Baird clients. About MYR Group Inc.MYR Group is a holding company of leading, specialty electr
THORNTON, Colo., July 31, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its second-quarter and first-half 2024 financial results. Highlights for Second Quarter 2024 Quarterly revenues of $828.9 millionQuarterly net loss of $15.3 million, or ($0.91) per diluted shareQuarterly EBITDA of ($4.7) millionBacklog of $2.54 billion Management CommentsRick Swartz, MYR's President and CEO, said, "Our second quarter 2024 financials reflected decreased revenues and consolidated gros
Sidoti downgraded MYR Group from Buy to Neutral and set a new price target of $165.00
KeyBanc Capital Markets initiated coverage of MYR Group with a rating of Sector Weight
Goldman initiated coverage of MYR Group with a rating of Buy and set a new price target of $164.00
Stifel resumed coverage of MYR Group with a rating of Buy and set a new price target of $144.00
Sidoti upgraded MYR Group from Neutral to Buy
Sidoti downgraded MYR Group from Buy to Neutral and set a new price target of $163.00
KeyBanc Capital Markets downgraded MYR Group from Overweight to Sector Weight
KeyBanc Capital Markets upgraded MYR Group from Sector Weight to Overweight and set a new price target of $99.00
Robert W. Baird upgraded MYR Group from Neutral to Outperform and set a new price target of $95.00 from $92.00 previously
THORNTON, Colo., Oct. 30, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its third-quarter and first nine-months 2024 financial results. Highlights for Third Quarter 2024 Quarterly revenues of $888.0 millionQuarterly net income of $10.6 million, or $0.65 per diluted shareQuarterly EBITDA of $37.2 millionBacklog of $2.60 billion Management CommentsRick Swartz, MYR's President and CEO, said, "Our core markets remain active, and bidding activity continued at a robust pace during the qu
THORNTON, Colo., Oct. 16, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will release its third-quarter 2024 results on Wednesday, Oct. 30, 2024, after the market closes. In conjunction with the release, MYR Group has scheduled a conference call and simultaneous webcast to discuss results on Thursday, Oct. 31, 2024, at 8:00 a.m. Mountain time. To participate via telephone and join the call live, please register in advance here: https://register.vevent.com/register/BIcf56e5d4dfbd47a
THORNTON, Colo., July 31, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its second-quarter and first-half 2024 financial results. Highlights for Second Quarter 2024 Quarterly revenues of $828.9 millionQuarterly net loss of $15.3 million, or ($0.91) per diluted shareQuarterly EBITDA of ($4.7) millionBacklog of $2.54 billion Management CommentsRick Swartz, MYR's President and CEO, said, "Our second quarter 2024 financials reflected decreased revenues and consolidated gros
THORNTON, Colo., July 17, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will release its second-quarter 2024 results on Wednesday, July 31, 2024, after the market closes. In conjunction with the release, MYR Group has scheduled a conference call and simultaneous webcast to discuss results on Thursday, Aug. 1, 2024, at 8:00 a.m. Mountain time. To participate via telephone and join the call live, please register in advance here: https://register.vevent.com/register/BI677e6fd415474fe
THORNTON, Colo., May 01, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its first-quarter 2024 financial results. Highlights for First Quarter 2024 Quarterly revenues of $815.6 millionQuarterly net income of $18.9 million, or $1.12 per diluted shareQuarterly EBITDA of $39.8 millionBacklog of $2.43 billion Management CommentsRick Swartz, MYR's President and CEO, said, "Our first quarter 2024 financials resulted in a slight increase in revenues and consolidated gross profit compared t
THORNTON, Colo., April 17, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will release its first-quarter 2024 results on Wednesday, May 1, 2024, after the market closes. In conjunction with the release, MYR Group has scheduled a conference call and simultaneous webcast to discuss results on Thursday, May 2, 2024, at 8:00 a.m. Mountain time. To participate via telephone and join the call live, please register in advance here: https://register.vevent.com/register/BI854acb449c13458fab
THORNTON, Colo., Feb. 28, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its fourth-quarter and full year 2023 financial results. Fourth Quarter 2023 Highlights Record quarterly revenues of $1.00 billionStrong quarterly net income of $24.0 million, or $1.43 per diluted shareRecord quarterly EBITDA of $52.8 million Full Year 2023 Highlights Record full-year revenues of $3.64 billionRecord full-year net income of $91.0 million, or $5.40 per diluted shareRecord full-year EBITDA of $18
THORNTON, Colo., Feb. 14, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will release its fourth quarter and full year 2023 results on Wednesday, Feb. 28, 2024, after the market closes. In conjunction with the release, MYR Group has scheduled a conference call and simultaneous webcast to discuss results on Thursday, Feb. 29, 2024, at 8:00 a.m. Mountain time. To participate via telephone and join the call live, please register in advance here: https://register.vevent.com/register/BI
THORNTON, Colo., Oct. 25, 2023 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its third-quarter and first nine-months 2023 financial results. Highlights for Third Quarter 2023 Record quarterly revenues of $939.5 millionQuarterly net income of $21.5 million, or $1.28 per diluted shareQuarterly EBITDA of $47.0 millionBacklog of $2.62 billion Management CommentsRick Swartz, MYR's President and CEO, said, "Our third quarter 2023 financials resulted in record high revenues of $939.5 million,
THORNTON, Colo., Oct. 11, 2023 (GLOBE NEWSWIRE) -- MYR Group Inc. ("MYR Group") (NASDAQ:MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will release its third-quarter 2023 results on Wednesday, Oct. 25, 2023, after the market closes. In conjunction with the release, MYR Group has scheduled a conference call and simultaneous webcast to discuss results on Thursday, Oct. 26, 2023, at 9:00 a.m. Central time. To participate via telephone and join the call live, please register in advance here: https://register.vevent.com/register/BIec660dbd71c24dc5
Ratings for MYR Group (NASDAQ:MYRG) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 1 1 0 0 Last 30D 0 1 0 0 0 1M Ago 1 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 1 0 1 0 0 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 aver
Baird analyst Justin Hauke maintains MYR Group (NASDAQ:MYRG) with a Outperform and lowers the price target from $185 to $180.
MYR Group (NASDAQ:MYRG) 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.
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. In a recently published study, equity analyst Carly Davenport has listed a basket of stocks positioned to benefit from the potential massive surge in U.S. power demand. 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’ share of total US power demand to 8% by 2030, up from the current level of approximately 3%. The “U.S. power demand (is) likely to experien
Stifel analyst Stanley Elliott maintains MYR Group (NASDAQ:MYRG) with a Buy and lowers the price target from $185 to $184.
In the preceding three months, 4 analysts have released ratings for MYR Group (NASDAQ:MYRG), presenting a wide array of perspectives from bullish to bearish. 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. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 0 1 0 0 Last 30D 1 0 0 0 0 1M Ago 0 0 1 0 0 2M Ago 0 0 0 0 0 3M Ago 2 0 0 0 0 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
Stifel analyst Stanley Elliott maintains MYR Group (NASDAQ:MYRG) with a Buy and raises the price target from $168 to $185.