FBR Capital Reiterates an 'Outperform' on MYR Group (MYRG); 1Q11 First Look - Solid Results, Record Backlog as Expected
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Price: $166.71 -1.56%
Rating Summary:
4 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 47
Rating Summary:
4 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 47
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FBR Capital reiterates an 'Outperform' on MYR Group (NASDAQ: MYRG).
FBR analyst says, "Yesterday, after the close, MYRG announced 1Q11 results that met our top line, but exceeded our and consensus EPS estimates due to increased productivity, cost efficiencies and effective project management. Total backlog of $604M set another record and was more than three times the backlog in the year-ago quarter. We remain upbeat on the prospects for the transmission & distribution (T&D) industry over the next 5+ years and believe MYR Group is one of the best-positioned contractors to benefit from additional bid opportunities and awards."
For more ratings news on MYR Group click here and for the rating history of MYR Group click here.
Shares of MYR Group closed at $25.00 yesterday.
FBR analyst says, "Yesterday, after the close, MYRG announced 1Q11 results that met our top line, but exceeded our and consensus EPS estimates due to increased productivity, cost efficiencies and effective project management. Total backlog of $604M set another record and was more than three times the backlog in the year-ago quarter. We remain upbeat on the prospects for the transmission & distribution (T&D) industry over the next 5+ years and believe MYR Group is one of the best-positioned contractors to benefit from additional bid opportunities and awards."
For more ratings news on MYR Group click here and for the rating history of MYR Group click here.
Shares of MYR Group closed at $25.00 yesterday.
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