MYRG Stock Summary and Trading Ideas (Myr Group | NASDAQ:MYRG)

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 trades on the NASDAQ stock market under the symbol MYRG.

As of April 19, 2024, MYRG stock price climbed to $159.78 with 13,170 million shares trading.

MYRG has a beta of 1.42, meaning it tends to be more sensitive to market movements. MYRG has a correlation of 0.34 to the broad based SPY ETF.

MYRG has a market cap of $2.67 billion. This is considered a Mid Cap stock.

Last quarter Myr Group reported $1 billion in Revenue and $1.43 earnings per share. This beat revenue expectation by $99 million and missed earnings estimates by -$.07.

In the last 3 years, MYRG stock traded as high as $181.02 and as low as $67.89.

The top ETF exchange traded funds that MYRG belongs to (by Net Assets): IJR, VTI, IWM, VXF, AVUV.

MYRG has outperformed the market in the last year with a return of +29.9%, while the SPY ETF gained +21.8%. In the last 3 month period, MYRG beat the market returning +14.0%, while SPY returned +4.8%. However, in the most recent 2 weeks MYRG has underperformed the stock market by returning -7.8%, while SPY returned -3.0%.

MYRG support price is $154.52 and resistance is $163.14 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MYRG stock will trade within this expected range on the day.