Zacks: Brokerages Anticipate EMCOR Group, Inc. (EME) Will Announce Quarterly Sales of $1.88 Billion
Equities analysts expect EMCOR Group, Inc. (NYSE:EME) to report $1.88 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for EMCOR Group’s earnings. The lowest sales estimate is $1.86 billion and the highest is $1.89 billion. EMCOR Group reported sales of $1.93 billion during the same quarter last year, which would suggest a negative year over year growth rate of 2.6%. The company is expected to report its next earnings report before the market opens on Thursday, July 27th.
According to Zacks, analysts expect that EMCOR Group will report full-year sales of $1.88 billion for the current year, with estimates ranging from $7.61 billion to $7.71 billion. For the next fiscal year, analysts forecast that the business will report sales of $7.99 billion per share, with estimates ranging from $7.88 billion to $8.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover EMCOR Group.
EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, April 27th. The construction company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.20. EMCOR Group had a net margin of 2.60% and a return on equity of 13.37%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. EMCOR Group’s quarterly revenue was up 8.4% compared to the same quarter last year.
A number of research firms have issued reports on EME. Zacks Investment Research upgraded shares of EMCOR Group from a “sell” rating to a “hold” rating and set a $74.00 target price on the stock in a report on Wednesday, April 26th. BidaskClub lowered shares of EMCOR Group from a “buy” rating to a “hold” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. EMCOR Group has an average rating of “Hold” and a consensus price target of $69.25.
Shares of EMCOR Group (NYSE:EME) traded up 0.764% during trading on Wednesday, reaching $65.265. 52,382 shares of the company’s stock were exchanged. EMCOR Group has a 52 week low of $50.34 and a 52 week high of $73.44. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 19.892 and a beta of 0.88. The stock has a 50 day moving average price of $65.27 and a 200-day moving average price of $65.37.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Monday, July 17th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.49%. EMCOR Group’s payout ratio is currently 9.76%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Flinton Capital Management LLC raised its position in EMCOR Group by 8.5% in the first quarter. Flinton Capital Management LLC now owns 1,632 shares of the construction company’s stock valued at $103,000 after buying an additional 128 shares during the last quarter. Meadow Creek Investment Management LLC raised its position in EMCOR Group by 8.5% in the first quarter. Meadow Creek Investment Management LLC now owns 2,244 shares of the construction company’s stock valued at $141,000 after buying an additional 176 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in EMCOR Group by 8.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,856 shares of the construction company’s stock valued at $180,000 after buying an additional 224 shares during the last quarter. Laurion Capital Management LP acquired a new position in EMCOR Group during the first quarter valued at approximately $201,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in EMCOR Group by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,231 shares of the construction company’s stock valued at $203,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 93.72% of the company’s stock.
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EMCOR Group Company Profile
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.
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