MYR Group Inc. (MYRG) Forms Double Top Chart Pattern at $30.73

Ruben Hill
April 16, 2018

The stock decreased 1.40% or $0.44 during the last trading session, reaching $30.94. 149,334 shares of the stock traded hands, compared to its average volume of 93,180.

MYR Group Inc is a holding company. It has underperformed by 34.37% the S&P500. The stock of MYR Group Inc. Grimes And Company Inc holds 22,600 shares. For the next financial year, analysts forecast that the business will post sales of $1.55 billion per share, with estimates ranging from $1.51 billion to $1.60 billion. It has outperformed by 339.76% the S&P500.

MYR Group Inc. (MYRG) shows a double top chart pattern today and has $33.19 PT or 8.00 % above today's $30.73 share price. The firm is scheduled to report its next quarterly earnings report on Wednesday, May 2nd.

Third Avenue Management Llc decreased Carrizo Oil & Gas Inc. Asset Mngmt Inc owns 100,010 shares. Kennedy (NYSE:KW) was reduced too.

During Q4 2017 the big money sentiment decreased to 0.81. It has change of 0.42, from 2017Q3's 1.23. It is negative, as 17 investors sold MYR Group Inc. shares while 50 reduced holdings. 36 grew positions while 18 funds amassed positions. Oppenheimer & invested 0.03% of its portfolio in MYR Group Inc. (NASDAQ:MYRG) for 257,926 shares. 32,754 were reported by Amundi Pioneer Asset Management Incorporated. (NASDAQ:MYRG). Putnam Ltd Co invested 0.01% in MYR Group Inc. (NASDAQ:MYRG). State Street Corporation, Massachusetts-based fund reported 416,016 shares. Prudential Fincl Inc holds 27,531 shares or 0% of its portfolio. Federated Investors Pa reported 0% of its capital in MYR Group Inc. MYR Group Inc. (NASDAQ:MYRG) has declined 22.82% since April 16, 2017 and is downtrending. Finally, Avondale Partners lowered MYR Group from an "outperform" rating to a "market perform" rating in a research note on Friday, November 18th. (NASDAQ:MYRG) for 14,733 shares. Alphaone Invest Service Llc reported 4,300 shares stake. Municipal Employees Retirement System of MI now owns 8,020 shares of the utilities provider's stock valued at $234,000 after purchasing an additional 2,290 shares during the period. Rhumbline Advisers reported 38,238 shares or 0% of all its holdings. On Wednesday, January 3 Robert W. Baird maintained the shares of MYRG in report with "Buy" rating. The positive are 40%. Since October 18, 2017 according to StockzIntelligence Inc MYR Group has 13 analyst reports. (NASDAQ:MYRG) earned "Hold" rating by Stifel Nicolaus. The firm has "Buy" rating by Zacks given on Tuesday, August 11. The stock rating was maintained by Robert W. Baird with "Buy" on Wednesday, December 6.

Myr Group Inc (NASDAQ:MYRG) had a decrease of 19.67% in short interest. The firm earned "Market Perform" rating on Friday, August 18 by FBR Capital. The company was maintained on Monday, April 9 by Robert W. Baird. The company has market cap of $20.45 billion. The stock has "Outperform" rating by Robert W. Baird on Thursday, March 8. The firm has "Equal-Weight" rating by Morgan Stanley given on Friday, November 17.

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on April, 17. They expect $0.22 earnings per share, up 214.29 % or $0.15 from last year's $0.07 per share. MYRG's profit would be $3.62 million giving it 35.16 P/E if the $0.22 EPS is correct. The utilities provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.34 by $0.01.

Investors sentiment increased to 2.81 in Q4 2017. Its up 0.15, from 1.04 in 2017Q3. The shares were sold at an average price of $35.18, for a total transaction of $738,006.04. 939,473 were reported by Macquarie Gru Limited. Morgan Stanley holds 0% in AVEO Pharmaceuticals, Inc. Schwab Charles Mgmt Inc, a California-based fund reported 160,528 shs. Great West Life Assurance Can invested in 0% or 20,953 shares. Argent Tru invested in 0.28% or 23,806 shares. Acuta Prtn holds 0.07% or 124,338 shares in its portfolio. Tower Research Capital Llc (Trc) invested 0.27% in Bank of America Corporation (NYSE:BAC). Fairfax Limited Can accumulated 0.2% or 80,000 shares. Wellington Mngmt Ltd Liability Partnership invested in 1.24% or 189.71M shares. Sei Investments Co. now owns 8,229 shares of the utilities provider's stock valued at $240,000 after purchasing an additional 2,774 shares during the period. Citigroup Inc owns 6,137 shs for 0% of their capital. "Buy" rating has 2, "Sell" are 0, while 3 are "Hold". Therefore 49% are positive. Telus Corporation had 19 analyst reports since August 4, 2015 according to SRatingsIntel. The stock has "Hold" rating by BB&T Capital on Friday, October 2. As per Wednesday, July 13, the company rating was initiated by Berenberg. MYR Group had a net margin of 1.51% and a return on equity of 4.90%. The rating was reinitiated by Stifel Nicolaus with "Hold" on Tuesday, January 5. Oppenheimer maintained the stock with "Buy" rating in Monday, March 26 report. The rating was maintained by Needham with "Buy" on Thursday, March 1. The firm earned "Buy" rating on Sunday, July 23 by Renaissance Macro Securities LLC. The company's revenue was up 8.7% on a year-over-year basis.

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