MYR Group’s Earnings Surprise: A Strong Candidate for Next Report

Are you looking for a stock that may continue to exceed earnings expectations in its next financial report? Consider MYR Group (MYRG), a player in the Zacks Electric Construction industry. This electrical construction services provider has established a solid track record of surpassing earnings estimates, particularly in its recent quarterly performances.

Recent Earnings Performance

In the last two fiscal quarters, MYR Group demonstrated an impressive average surprise of 195%. Specifically, for its most recent quarter, the company was projected to report earnings of $0.30 per share. Instead, it delivered $0.99 per share, representing a remarkable surprise of 230%. In the quarter prior, MYR was expected to report $0.25 per share but achieved $0.65 per share, leading to a surprise of 160%.

Price and EPS Surprise Analysis

Given its strong earnings history, analysts have recently increased their estimates for MYR Group. Notably, the Zacks earnings ESP (Expected Surprise Prediction) for the company is currently positive, indicating the potential for another earnings beat. This metric, combined with MYR’s positive Zacks Rank, is an encouraging sign.

Our analysis shows that stocks with a positive earnings ESP and a Zacks Rank of #3 (Hold) or higher typically experience a positive surprise rate of nearly 70%. In practical terms, for every 10 stocks meeting these criteria, about seven could potentially surpass consensus estimates.

The Zacks earnings ESP measures the Most Accurate Estimate against the Zacks Consensus Estimate for the quarter. The Most Accurate Estimate reflects revisions made by analysts who have up-to-date information, potentially yielding a more accurate prediction than earlier consensus estimates.

Currently, MYR holds an earnings ESP of +8.13%. This suggests an optimistic outlook among analysts regarding the company’s earnings potential. With an accompanying Zacks Rank of #2 (Buy), another earnings beat seems likely. The next earnings report for MYR Group is anticipated on April 30, 2025.

Considerations for Investors

It is essential to note that a negative earnings ESP does not automatically imply an earnings miss. However, it can diminish the predictive power of this metric. While many companies do surpass consensus EPS estimates, various factors influence stock performance beyond just earnings surprises.

As a result, checking a company’s earnings ESP before its quarterly report can enhance the likelihood of informed investment decisions. Utilizing the earnings ESP Filter can help uncover promising stocks to consider for buying or selling ahead of earnings releases.

Zacks Highlights a Top Semiconductor Stock

In another exciting development, Zacks has identified the #1 semiconductor stock. This stock, only 1/9,000th the size of NVIDIA (which has increased over +800% since Zacks recommended it), boasts significant growth potential. It is well-positioned to capitalize on the rising demand for Artificial Intelligence, Machine Learning, and the Internet of Things.

Global semiconductor manufacturing is expected to surge from $452 billion in 2021 to $803 billion by 2028, further underscoring the industry’s robust growth prospects.

See this stock now for free >>

If you want the latest recommendations from Zacks Investment Research, you can download the report on the 7 Best Stocks for the Next 30 Days. Click here to access this free report.

MYR Group, Inc. (MYRG): Free stock analysis report.

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.