EMCOR Group, Inc. (EME) Expected to Announce Quarterly Sales of $1.93 Billion
Analysts forecast that EMCOR Group, Inc. (NYSE:EME) will announce $1.93 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for EMCOR Group’s earnings, with estimates ranging from $1.93 billion to $1.94 billion. EMCOR Group reported sales of $1.92 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 0.5%. The company is expected to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that EMCOR Group will report full-year sales of $1.93 billion for the current fiscal year, with estimates ranging from $7.64 billion to $7.69 billion. For the next fiscal year, analysts anticipate that the business will report sales of $8.01 billion per share, with estimates ranging from $7.94 billion to $8.13 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for EMCOR Group.
EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, July 27th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. EMCOR Group had a return on equity of 13.19% and a net margin of 2.63%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 earnings per share.
EME has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Monday, July 31st. BidaskClub lowered shares of EMCOR Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. EMCOR Group currently has an average rating of “Hold” and an average price target of $69.75.
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Several institutional investors have recently made changes to their positions in EME. Flinton Capital Management LLC raised its position in shares of EMCOR Group by 8.5% in the first quarter. Flinton Capital Management LLC now owns 1,632 shares of the construction company’s stock worth $103,000 after buying an additional 128 shares during the period. Global X Management Co. LLC raised its position in shares of EMCOR Group by 220.0% in the second quarter. Global X Management Co. LLC now owns 1,920 shares of the construction company’s stock worth $126,000 after buying an additional 1,320 shares during the period. Meadow Creek Investment Management LLC raised its position in shares of 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 worth $141,000 after buying an additional 176 shares during the period. IFP Advisors Inc raised its position in shares of EMCOR Group by 10.8% in the second quarter. IFP Advisors Inc now owns 2,546 shares of the construction company’s stock worth $166,000 after buying an additional 249 shares during the period. Finally, Glen Harbor Capital Management LLC raised its position in shares of 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 worth $180,000 after buying an additional 224 shares during the period. Institutional investors own 94.25% of the company’s stock.
Shares of EMCOR Group (EME) opened at 67.52 on Tuesday. The firm has a 50-day moving average price of $65.70 and a 200-day moving average price of $65.16. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 20.24 and a beta of 0.89. EMCOR Group has a 12 month low of $54.89 and a 12 month high of $73.44.
The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 17th were issued a $0.08 dividend. The ex-dividend date was Thursday, July 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. EMCOR Group’s dividend payout ratio (DPR) is presently 9.61%.
About EMCOR Group
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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