Where MYR Group Stands With Analysts
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 shift, the current average has risen by 7.23% from the previous average price target of $159.00.
Exploring Analyst Ratings: An In-Depth Overview
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.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Stanley Elliott | Stifel | Raises | Buy | $185.00 | $168.00 |
| Brian Russo | Sidoti & Co. | Maintains | Neutral | $165.00 | $165.00 |
| Stanley Elliott | Stifel | Raises | Buy | $168.00 | $144.00 |
| Ati Modak | Goldman Sachs | Announces | Buy | $164.00 | - |
Key Insights:
- Action Taken: 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.
- Rating: 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.
- Price Targets: 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.
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.
Stay up to date on MYR Group analyst ratings.
All You Need to Know About 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.
MYR Group: Financial Performance Dissected
Market Capitalization Analysis: 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.
Revenue Growth: 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 17.46%. 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.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 2.29%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): MYR Group's ROE stands out, surpassing industry averages. With an impressive ROE of 3.5%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): MYR Group's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.42% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.15.
The Basics of Analyst Ratings
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.
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.
This article was generated by Benzinga's automated content engine and reviewed by an editor.