Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of electrical contractor MYR Group (NASDAQ: MYRG ) dropped 10% today after the company released earnings.
So what: Contract revenues dropped 16% in the first quarter, to $201.3 million, and net income rose 12%, to $7.0 million, or $0.32 per share. The problem for MYR Group is that Wall Street was expecting $245.5 million in revenue, and $0.35 per share in earnings, and the company well short of that.
Now what: The downside is that revenue was disappointing, but we shouldn't forget that gross margin was up to 13.6%, from 10.9% a year ago. That's encouraging because contract wins and, therefore, revenue can be choppy, so cost controls are important. I'm not overly excited about the results, but the 10.4 forward P/E ratio is fairly attractive, and if shares slip further over the next few weeks, I think investors can get an attractive value.
Interested in more info on MYR Group? Add it to your watchlist by clicking here.
RSS Headlines
Comments from our Foolish Readers
Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the
Report this Comment icon found on every comment.
Be the first one to comment on this article.