Everus Construction Group (NYSE:ECG) Announces Earnings Results, Beats Estimates By $0.36 EPS

Everus Construction Group (NYSE:ECG) announced its quarterly earnings data on Tuesday. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.36, FiscalAI reports. Everus Construction Group had a return on equity of 36.74% and a net margin of 5.18%.The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $879.57 million.

Everus Construction Group Stock Performance

NYSE:ECG traded down $1.83 during midday trading on Tuesday, reaching $104.25. The stock had a trading volume of 879,352 shares, compared to its average volume of 694,146. The stock has a market cap of $5.32 billion, a P/E ratio of 29.53 and a beta of 3.84. The firm has a fifty day simple moving average of $92.54 and a two-hundred day simple moving average of $87.57. The company has a quick ratio of 1.69, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. Everus Construction Group has a 12-month low of $31.38 and a 12-month high of $110.00.

Wall Street Analyst Weigh In

ECG has been the subject of a number of analyst reports. Zacks Research downgraded shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Everus Construction Group in a research report on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Everus Construction Group in a research report on Thursday, January 22nd. Wall Street Zen downgraded Everus Construction Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Cantor Fitzgerald began coverage on shares of Everus Construction Group in a report on Friday, January 23rd. They set a “neutral” rating and a $97.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $102.75.

Institutional Trading of Everus Construction Group

A number of institutional investors have recently modified their holdings of ECG. Wasatch Advisors LP acquired a new position in shares of Everus Construction Group during the 4th quarter worth $184,838,000. Invesco Ltd. raised its stake in Everus Construction Group by 86.4% in the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock valued at $153,984,000 after purchasing an additional 832,389 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Everus Construction Group by 162.2% during the fourth quarter. Millennium Management LLC now owns 642,250 shares of the company’s stock valued at $54,951,000 after buying an additional 397,268 shares during the period. Merewether Investment Management LP acquired a new stake in shares of Everus Construction Group during the third quarter worth $24,842,000. Finally, Fred Alger Management LLC acquired a new stake in Everus Construction Group in the 4th quarter worth about $11,069,000.

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. Everus Construction Group is based in BISMARCK, N.D.