MYR Group Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Simply Wall St.11-02

Shareholders of MYR Group Inc. (NASDAQ:MYRG) will be pleased this week, given that the stock price is up 14% to US$130 following its latest third-quarter results. Revenues of US$888m fell slightly ...

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Revenues of US$888m fell slightly ...</p>\n\n<a href=\"https://finance.yahoo.com/news/myr-group-inc-just-beat-123432449.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MYR Group Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMYR Group Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-02 20:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/myr-group-inc-just-beat-123432449.html><strong>Simply Wall St.</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shareholders of MYR Group Inc. (NASDAQ:MYRG) will be pleased this week, given that the stock price is up 14% to US$130 following its latest third-quarter results. Revenues of US$888m fell slightly ...</p>\n\n<a href=\"https://finance.yahoo.com/news/myr-group-inc-just-beat-123432449.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4129","symbol_name":"建筑与工程","start_time":0,"source_url":"https://finance.yahoo.com/news/myr-group-inc-just-beat-123432449.html","article_id":"2480182614","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/kpZnHWmVXh9fa.5MJ5otJg--~B/aD00MzI7dz0xMTk0O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/simply_wall_st__316/e18325c660d04f2fe88569956b7babe1"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480182614","pubTimestamp":1730550872,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Shareholders of MYR Group Inc.  will be pleased this week, given that the stock price is up 14% to US$130 following its latest third-quarter results. Revenues of US$888m fell slightly short of expectations, but earnings were a definite bright spot, with statutory per-share profits of US$0.65 an impressive 55% ahead of estimates. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism toward","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4129":"建筑与工程","MYRG":"MYR Group"},"translate_title":"MYR Group Inc.刚刚超出分析师预测，分析师一直在更新他们的预测","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MYRG":1},"content_text":"Shareholders of MYR Group Inc. (NASDAQ:MYRG) will be pleased this week, given that the stock price is up 14% to US$130 following its latest third-quarter results. Revenues of US$888m fell slightly short of expectations, but earnings were a definite bright spot, with statutory per-share profits of US$0.65 an impressive 55% ahead of estimates. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year. \n Check out our latest analysis for MYR Group \n\n\n\n  NasdaqGS:MYRG Earnings and Revenue Growth November 2nd 2024\n \n\n After the latest results, the four analysts covering MYR Group are now predicting revenues of US$3.61b in 2025. If met, this would reflect a reasonable 2.1% improvement in revenue compared to the last 12 months. Per-share earnings are expected to soar 160% to US$6.18. Before this earnings report, the analysts had been forecasting revenues of US$3.66b and earnings per share (EPS) of US$5.70 in 2025. The analysts seems to have become more bullish on the business, judging by their new earnings per share estimates. \n There's been no major changes to the consensus price target of US$131, suggesting that the improved earnings per share outlook is not enough to have a long-term positive impact on the stock's valuation. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values MYR Group at US$138 per share, while the most bearish prices it at US$124. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or thatthe analysts have a strong view on its prospects. \n These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the MYR Group's past performance and to peers in the same industry. It's pretty clear that there is an expectation that MYR Group's revenue growth will slow down substantially, with revenues to the end of 2025 expected to display 1.7% growth on an annualised basis. This is compared to a historical growth rate of 13% over the past five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 8.4% annually. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than MYR Group. \nThe Bottom Line \n The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards MYR Group following these results. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. The consensus price target held steady at US$131, with the latest estimates not enough to have an impact on their price targets. \n Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have forecasts for MYR Group going out to 2026, and you can see them free on our platform here. \n We don't want to rain on the parade too much, but we did also find 1 warning sign for MYR Group that you need to be mindful of. \nHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480182614"}