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

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

Everus Construction Group Trading Down 1.7%

Shares of NYSE:ECG traded down $1.83 during mid-day trading on Tuesday, hitting $104.25. The company had a trading volume of 877,607 shares, compared to its average volume of 694,146. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.69. Everus Construction Group has a one year low of $31.38 and a one year high of $110.00. The firm has a fifty day moving average price of $92.54 and a 200 day moving average price of $87.57. The company has a market capitalization of $5.32 billion, a PE ratio of 29.53 and a beta of 3.84.

Institutional Investors Weigh In On Everus Construction Group

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

Wall Street Analysts Forecast Growth

ECG has been the topic of a number of research reports. DA Davidson set a $102.00 price objective on Everus Construction Group in a report on Thursday, November 6th. Cantor Fitzgerald began coverage on shares of Everus Construction Group in a research note on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price target on the stock. Wall Street Zen lowered shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Stifel Nicolaus cut their price objective on shares of Everus Construction Group from $110.00 to $107.00 and set a “buy” rating for the company in a report on Monday, January 26th. Finally, Zacks Research lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $102.75.

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.