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2 Reasons to Like MYRG (and 1 Not So Much)
MYR Group trades at $293.96 per share and has stayed right on track with the overall market, gaining 7.5% over the last six months. At the same time, the S&P 500 has returned 12.3%.
Is MYRG a buy right now? Find out in our full research report, it’s free.
Why Does MYRG Stock Spark Debate?
Constructing electrical and phone lines in the American Midwest dating back to the 1890s, MYR Group (NASDAQ:MYRG) is a specialty contractor in the electrical construction industry.
Two Positive Attributes:
1. Projected Revenue Growth Is Remarkable
Forecasted revenues by Wall Street analysts signal a company’s potential. Predictions may not always be accurate, but accelerating growth typically boosts valuation multiples and stock prices while slowing growth does the opposite, though some deceleration is natural as businesses become larger.
Over the next 12 months, sell-side analysts expect MYR Group’s revenue to rise by 19.4%, an improvement versus its 10.3% annualized growth for the past five years. This projection is eye-popping and implies its newer products and services will catalyze better top-line performance.
2. Outstanding Long-Term EPS Growth
Analyzing the long-term change in earnings per share (EPS) shows whether a company’s incremental sales were profitable — for example, revenue could be inflated through excessive spending on advertising and promotions.
MYR Group’s EPS grew at 18.6% compounded annual growth rate over the last five years, higher than its 10.3% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded.
One Reason to Be Careful:
Lackluster Revenue Growth
We at StockStory place the most emphasis on long-term growth, but within industrials, a stretched historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. MYR Group’s recent performance shows its demand has slowed as its annualized revenue growth of 5.7% over the last two years was below its five-year trend. We’re wary when companies in the sector see decelerations in revenue growth, as it could signal changing consumer tastes aided by low switching costs. 
Final Judgment
MYR Group has huge potential even though it has some open questions. At $293.96 per share (or 23.8× forward P/E), is now the time to initiate a position? See for yourself in our full research report, it’s free.
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