Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $29.00 on MYR Group, Inc. (NASDAQ:MYRG) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $1.15 for the next fiscal and $N/A for underway quarter.
Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of MYR Group, Inc. (NASDAQ:MYRG) stands at 28.36.
Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For MYR Group, Inc., the PEG ratio for coming 3-5 years is 3.52.
The technical analysis highlights that MYR Group, Inc. current is trading $3.07 points away or +12.29% from its 50-day moving average of $25.01. Further it is trading $4.25 or +17.84% away its 200-day moving average of $23.83.
The 52-week high of MYR Group, Inc. (NASDAQ:MYRG) was $29.92 while lowest point recorded in 52-week was $17.77. It implies if stock price makes a movement of over $-1.84, it will record a new 52-week high. In the case of +58.02% drop, it will touch a new 52-week low.
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