Everus Construction Group (NYSE:ECG) Issues Earnings Results

by · The Markets Daily

Everus Construction Group (NYSE:ECG – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.50, FiscalAI reports. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.08 billion. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period last year, the company earned $1.03 EPS.

Everus Construction Group Trading Up 2.5%

NYSE ECG traded up $3.38 during trading on Tuesday, hitting $136.00. The stock had a trading volume of 967,024 shares, compared to its average volume of 648,700. Everus Construction Group has a one year low of $69.61 and a one year high of $171.58. The stock has a 50 day simple moving average of $143.75 and a 200 day simple moving average of $128.33. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 31.19 and a beta of 2.23. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.71 and a current ratio of 1.77.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ECG. Freedom Capital downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald raised their price target on Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Oppenheimer began coverage on shares of Everus Construction Group in a research note on Thursday, May 28th. They set an “outperform” rating and a $185.00 price objective for the company. Weiss Ratings upgraded shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Finally, Guggenheim raised shares of Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Everus Construction Group has a consensus rating of “Hold” and a consensus price target of $155.67.

Read Our Latest Stock Report on Everus Construction Group

Institutional Investors Weigh In On Everus Construction Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wasatch Advisors LP bought a new stake in shares of Everus Construction Group during the fourth quarter worth $184,838,000. Invesco Ltd. lifted its holdings in Everus Construction Group by 86.4% during the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock valued at $153,984,000 after buying an additional 832,389 shares in the last quarter. Alliancebernstein L.P. boosted its position in Everus Construction Group by 5.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock valued at $85,821,000 after buying an additional 72,775 shares during the period. Dimensional Fund Advisors LP grew its stake in Everus Construction Group by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,094,296 shares of the company’s stock worth $93,638,000 after acquiring an additional 7,133 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Everus Construction Group by 162.2% during the 4th quarter. Millennium Management LLC now owns 642,250 shares of the company’s stock worth $54,951,000 after purchasing an additional 397,268 shares during the period.

About Everus Construction Group

(Get Free Report)

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers. Everus Construction Group is based in BISMARCK, N.D.

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