Everus Construction Group (NYSE:ECG) Hits New 52-Week High on Earnings Beat

Everus Construction Group, Inc. (NYSE:ECG) shares hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $96.00 and last traded at $95.9790, with a volume of 255 shares changing hands. The stock had previously closed at $86.63.

The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.49. The business had revenue of $986.82 million during the quarter, compared to the consensus estimate of $830.60 million. Everus Construction Group had a net margin of 5.07% and a return on equity of 35.83%. Everus Construction Group’s revenue was up 29.7% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. Everus Construction Group has set its FY 2025 guidance at EPS.

Analyst Ratings Changes

ECG has been the topic of a number of research analyst reports. Oppenheimer set a $90.00 price target on Everus Construction Group and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Everus Construction Group in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Wall Street Zen downgraded shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 14th. Finally, Stifel Nicolaus increased their price target on shares of Everus Construction Group from $88.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $90.67.

Institutional Trading of Everus Construction Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Westwood Holdings Group Inc. acquired a new stake in Everus Construction Group in the first quarter valued at approximately $75,089,000. Alliancebernstein L.P. grew its position in Everus Construction Group by 58.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,278,096 shares of the company’s stock worth $47,405,000 after acquiring an additional 470,025 shares during the last quarter. Swedbank AB acquired a new position in Everus Construction Group in the 2nd quarter worth about $19,059,000. Victory Capital Management Inc. raised its position in Everus Construction Group by 2,050.4% in the first quarter. Victory Capital Management Inc. now owns 260,752 shares of the company’s stock valued at $9,671,000 after purchasing an additional 248,626 shares during the last quarter. Finally, Rudius Management LP bought a new position in Everus Construction Group in the first quarter valued at about $7,520,000.

Everus Construction Group Stock Up 8.9%

The stock has a 50 day moving average price of $83.37 and a 200 day moving average price of $69.43. The stock has a market capitalization of $4.81 billion and a price-to-earnings ratio of 29.86. The company has a quick ratio of 1.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.53.

Everus Construction Group Company Profile

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.