Media coverage about MYR Group (NASDAQ:MYRG) has been trending positive on Saturday, Alpha One Sentiment reports. The research firm, a division of Accern, identifies negative and positive media coverage by reviewing more than 20 million blog and news sources. Alpha One ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. MYR Group earned a news sentiment score of 0.39 on Alpha One’s scale. Alpha One also gave media stories about the utilities provider an impact score of 96 out of 100, meaning that recent media coverage is extremely likely to have an impact on the company’s share price in the near future.
Here are some of the media stories that may have effected AlphaOne’s rankings:
Shares of MYR Group (NASDAQ:MYRG) traded up 5.07% on Friday, hitting $35.20. The stock had a trading volume of 226,590 shares. MYR Group has a 52 week low of $21.84 and a 52 week high of $43.77. The company has a market cap of $575.31 million, a PE ratio of 28.62 and a beta of 0.53. The stock’s 50-day moving average price is $40.56 and its 200 day moving average price is $37.87.
MYR Group (NASDAQ:MYRG) last issued its earnings results on Wednesday, May 3rd. The utilities provider reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.22. MYR Group had a return on equity of 6.91% and a net margin of 1.82%. The business had revenue of $300.13 million for the quarter, compared to the consensus estimate of $300.97 million. On average, analysts predict that MYR Group will post $1.70 EPS for the current year.
A number of brokerages have issued reports on MYRG. Robert W. Baird raised MYR Group from a “neutral” rating to an “outperform” rating and set a $41.00 target price for the company in a research report on Friday. Zacks Investment Research raised MYR Group from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Tuesday, March 14th. Finally, FBR & Co upped their target price on MYR Group from $32.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, January 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $39.40.
In related news, Director Gary Ronald Johnson sold 8,000 shares of MYR Group stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $40.12, for a total transaction of $320,960.00. Following the completion of the sale, the director now directly owns 29,102 shares of the company’s stock, valued at approximately $1,167,572.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Tod M. Cooper sold 8,412 shares of MYR Group stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $38.95, for a total value of $327,647.40. Following the sale, the chief operating officer now directly owns 31,590 shares of the company’s stock, valued at $1,230,430.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,265 shares of company stock valued at $1,450,867. 10.40% of the stock is currently owned by insiders.
MYR Group Company Profile
MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.