D.A. Davidson Sees Lower Earnings For MYR Group

In a report published Thursday, D.A. Davidson analyst John B. Rogers reiterated a Neutral rating and $27.00 price target on MYR Group (NASDAQ: MYRG).

In the report, D.A. Davidson noted, “Reported earnings of $0.36 per share for the second quarter declined from $0.44 last year and were below our estimate of $0.48 and consensus of $0.41. All of the decline and shortfall relative to our expectations was due to lower contributions from the T&D segment, which offset gains in C&I.”

MYR Group closed on Wednesday at $25.78.