Revenue Update on MYR Group Inc(NASDAQ:MYRG)

MYR Group Inc(NASDAQ:MYRG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $261.93M. Analysts estimated a revenue of $279.96M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.32.

MYR Group Inc (MYRG) shares turned negative on Fridays trading session with the shares closing down -0.21 points or -0.75% at a volume of 4,09,042. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.91. The peak price level was also seen at $27.91 while the days lowest was $26.67. Finally the shares closed at $27.8. The 52-week high of the shares is $29.92 while the 52-week low is $17.77. According to the latest information available, the market cap of the company is $446 M.

Several Insider Transactions has been reported to the SEC. On Sep 14, 2015, William H. Green (Senior VP) sold 32,000 shares at $27.02 per share price.Also, On Mar 30, 2015, William A Koertner (Chairman, President and CEO) sold 19,732 shares at $32.00 per share price.On Mar 16, 2015, Richard S. Jr. Swartz (COO and Senior VP) sold 11,577 shares at $28.19 per share price, according to the Form-4 filing with the securities and exchange commission.

MYR Group Inc. is a holding company which provides specialty electrical construction services through its subsidiaries. The Company performs construction services in two business segments: Transmission and Distribution (T&D) and Commercial and Industrial (C&I). T&D segment provides solutions to customers in the electric utility industry and the renewable energy industry. The Company also provides C&I electrical contracting services to property owners and general contractors in the western United States. The Company’s wholly owned subsidiaries include The L. E. Myers Co. Harlan Electric Company Hawkeye Construction Inc. Great Southwestern Construction Inc. Sturgeon Electric Company Inc. MYR Transmission Services Inc. MYR Group Construction Canada Ltd. MYR Transmission Services Canada Ltd. and Northern Transmission Services Ltd. The Company also provides electrical construction services and limited gas construction services.

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