Jefferies cuts target for MYR Group stock to USD 370.00

Published on 10/17/2026 at 18:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter 2026 revenue rose 20.10 percent to USD 1.08 billion. Earnings call set for October 29, 2026 at 10:00 a.m. EDT.

Analyst target and earnings date

Jefferies lowered its MYR Group target to USD 370.00 on October 6, 2026.
Second-quarter 2026 revenue rose 20.10 percent to USD 1.08 billion.
MYR Group stock last traded at USD 280.16 on October 16, 2026 at 4:00 p.m. ET.
The next earnings call is scheduled for October 29, 2026.

MYRG, US55405W1045, Illustration mit AI erstellt.

Jefferies cut its price target for MYR Group stock from USD 377.00 to USD 370.00 on October 6, 2026, while retaining a Buy rating. The new target stood 32.07 percent above MYR Group's last reported USD 280.16 price. According to Markets Insider, analyst Julien Dumoulin-Smith cited improving visibility across the company's transmission and commercial businesses.

Revenue sets the operating backdrop

MYR Group reported USD 1.08 billion in revenue for the second quarter of 2026, up 20.10 percent from the same quarter of 2025. Diluted earnings per share reached USD 3.17, compared with a USD 2.62 consensus estimate. The figures give the analyst target a concrete operating reference.

The company reported USD 49.85 million in consolidated net income for the second quarter of 2026. Revenue was USD 1.00 billion in the first quarter of 2026, so the second-quarter figure was USD 81.35 million higher on a sequential basis. These reported figures are presented in MYR Group's investor-relations materials.

Price position after October 16

MYR Group last traded at USD 280.16 on October 16, 2026 at 4:00 p.m. ET, down USD 5.41 from the prior close. Trading volume was 238,816 shares, against an average of 281,650 shares. The 52-week range extended from USD 190.14 to USD 503.57, placing the latest price 44.36 percent below the high and 47.35 percent above the low.

Valuation and coming dates

MYR Group had a market capitalization of USD 4.4 billion and a price-to-earnings ratio of 26.61 as of October 16, 2026. The investor-relations calendar lists the third-quarter 2026 conference call for October 29, 2026, at 10:00 a.m. EDT. It also lists a Baird industrial conference for November 12, 2026.

MYR Group's primary listing is on NASDAQ under the ticker MYRG. The company provides electrical construction, maintenance and repair services for utility, commercial and industrial infrastructure across the United States and Canada.

Comparison with peers

MYR Group: minus 1.89 percent, P/E 26.61, market capitalization USD 4.4 billion.
Quanta Services (NYSE, USD): minus 1.61 percent, P/E 72.38, market capitalization USD 95.0 billion.
MasTec (NYSE, USD): minus 0.32 percent, P/E 30.47, market capitalization USD 15.3 billion.

What the next report may clarify

The October 29 call is the next scheduled test for whether the second-quarter growth rate is carrying into the second half. Jefferies' USD 370.00 target remains materially above the October 16 market price, but the comparison with Quanta Services shows that MYR Group trades on a lower earnings multiple than that larger peer.

Price and next date

The next earnings call is scheduled for October 29, 2026, while the latest market price was USD 280.16 at 4:00 p.m. ET on October 16, 2026. The two dates frame the next valuation check for MYR Group stock.