Everus Construction Group (NYSE:ECG) Issues Earnings Results

Everus Construction Group (NYSE:ECGGet Free Report) announced its earnings results on Tuesday. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.50, FiscalAI reports. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year.

Everus Construction Group Trading Up 8.0%

ECG stock traded up $10.84 on Wednesday, hitting $147.00. 332,510 shares of the company were exchanged, compared to its average volume of 645,997. Everus Construction Group has a twelve month low of $69.61 and a twelve month high of $171.58. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 33.72 and a beta of 2.37. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.77 and a quick ratio of 1.71. The business’s fifty day moving average is $143.44 and its two-hundred day moving average is $128.68.

Institutional Investors Weigh In On Everus Construction Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ECG. Wasatch Advisors LP acquired a new position in shares of Everus Construction Group in the 4th quarter valued at about $184,838,000. Invesco Ltd. grew its holdings in shares of Everus Construction Group by 86.4% during the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock worth $153,984,000 after purchasing an additional 832,389 shares during the period. Millennium Management LLC increased its position 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 in the last quarter. Merewether Investment Management LP acquired a new stake in Everus Construction Group during the 3rd quarter worth approximately $24,842,000. Finally, Fred Alger Management LLC purchased a new position in Everus Construction Group in the fourth quarter valued at approximately $11,069,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald raised their price objective on shares of Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Glj Research assumed coverage on Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 target price on the stock. Guggenheim upgraded Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Thursday, April 30th. Freedom Capital downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Zacks Research downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $155.67.

View Our Latest Research Report on ECG

Everus Construction Group Company Profile

(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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Earnings History for Everus Construction Group (NYSE:ECG)

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