Emcor Group Upgraded to Outperform at Zacks (EME)
Emcor Group (NYSE:EME) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Friday. The firm currently has a $55.00 target price on the stock. Zacks‘s target price would indicate a potential upside of 20.01% from the company’s current price.
Zacks’ analyst wrote, “Emcor Group, Inc is a leading construction and manufacturing company. We are upgrading our recommendation on Emcor Group to Outperform from Neutral with a target price of $55. In the last reported quarter, the company reported growth in both earnings and revenues. The company is benefiting from the strong performance of most of its segments especially- U.S. electrical construction, U.S. Mechanical Construction, U.S. Building Services and U.S. Industrial Services. Moreover, the recent upswing in the U.S. non-residential construction market is likely to drive company’s growth going forward. However, the company’s organic growth has been continuously declining and can prove to be headwind going ahead.”
Separately, analysts at Sidoti initiated coverage on shares of Emcor Group in a research note on Monday, April 21st. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $49.20.
Shares of Emcor Group (NYSE:EME) traded up 2.12% during mid-day trading on Friday, hitting $45.83. The stock had a trading volume of 117,484 shares. Emcor Group has a 1-year low of $36.26 and a 1-year high of $48.00. The stock has a 50-day moving average of $45.18 and a 200-day moving average of $44.45. The company has a market cap of $3.083 billion and a P/E ratio of 22.55.
Emcor Group (NYSE:EME) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.52 by $0.12. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the company posted $0.44 earnings per share. Emcor Group’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that Emcor Group will post $2.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, July 28th. Stockholders of record on Monday, July 14th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 10th.
In other Emcor Group news, CFO Mark A. Pompa unloaded 3,942 shares of Emcor Group stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $45.19, for a total transaction of $178,138.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
EMCOR Group, Inc (NYSE:EME) is an electrical and mechanical construction and facilities services firm in the United States, the United Kingdom and globally.
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