MYR Group stock gains on strong growth outlook and record backlog

Published on 09/17/2026 at 18:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

MYR Group stock trades near USD 276.04 on September 17, 2026, supported by a 19.4% projected sales increase over the next 12 months. Zacks now rates the shares Strong Buy with earnings seen rising more than 50% in 2026.

MYRG, US55405W1045, Illustration mit AI erstellt.

MYR Group stock (ISIN US55405W1045) is trading around USD 276.04 as of September 17, 2026, underpinned by a robust growth outlook that calls for 19.4% sales expansion over the next 12 months and accelerating earnings momentum.

Growth outlook and backlog underpin MYR Group stock

Constructing and maintaining electrical infrastructure across North America, MYR Group (legal form Inc.) has recently drawn attention from long-term investors thanks to a strong demand backdrop and expanding project pipeline. According to StockStory on September 17, 2026, MYR Group's sales outlook for the upcoming 12 months points to 19.4% revenue growth, faster than its two-year trend, while annual earnings per share growth of 90% over the last two years has outpaced revenue gains.

The growth story is backed by a rising backlog of contracted work. As highlighted by Zacks on September 17, 2026, MYR Group's backlog reached a record level in the latest reported quarter, giving the company greater visibility on future revenues and supporting expectations for continued top-line growth.

Earnings momentum and valuation metrics

Earnings expectations have moved up alongside the backlog. According to Zacks on September 17, 2026, the Zacks Consensus Estimate for MYR Group's 2026 earnings implies year-over-year earnings growth of 54.1%, while the 2027 estimate points to further growth of around 12.9%. In addition, the shares currently carry a Zacks Rank #1 (Strong Buy), signaling positive analyst sentiment toward the company's near-term prospects.

From a valuation perspective, MYR Group stock trades at 20.9 times forward earnings at a share price of USD 276.04, based on data reported by StockStory on September 17, 2026. That multiple stands modestly above the broader electrical construction industry average, which Zacks places at a forward 12-month P/E of 18.57, meaning investors are willing to pay a premium of roughly 2.33 turns of earnings for MYR Group's stronger growth profile.

Analyst view and share price performance

Analyst sentiment has improved in recent months. Over the past three months, MYR Group's consensus earnings-per-share estimate for the current year has increased by 8.7%, reflecting upgraded expectations for profitability, according to Zacks on September 17, 2026.

That stronger outlook has gone hand in hand with a solid share price run. The same Zacks overview notes that MYR Group stock is up 24.4 percent year-to-date as of September 17, 2026, meaning the shares have delivered a gain of nearly one quarter since the turn of the year, while the industry as a whole has suffered a 74.4 percent decline over the past year. This divergence underscores how MYR Group has significantly outperformed its peers despite sector headwinds.

Investor takeaway and current market level

For retail investors, the key numbers now are the projected 19.4 percent revenue increase over the next 12 months and the expected 54.1 percent earnings growth in 2026, set against a forward P/E of 20.9 and a year-to-date price gain of 24.4 percent. Together, these figures portray a specialty contractor whose backlog and profitability trajectory justify a valuation premium compared with the wider utilities and infrastructure universe.

On Nasdaq, MYR Group stock most recently changed hands at approximately USD 276.04 per share on September 17, 2026, with the market capitalization around USD 4.29 billion based on the same price level reported by Yahoo Finance.