Brokerages expect Emcor Group Inc (NYSE:EME) to report sales of $2.05 billion for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Emcor Group’s earnings, with estimates ranging from $2.02 billion to $2.08 billion. Emcor Group posted sales of $2.01 billion during the same quarter last year, which would indicate a positive year over year growth rate of 2%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 28th.
According to Zacks, analysts expect that Emcor Group will report full year sales of $7.96 billion for the current year, with estimates ranging from $7.92 billion to $7.98 billion. For the next year, analysts expect that the business will report sales of $8.23 billion, with estimates ranging from $8.18 billion to $8.31 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 posted its quarterly earnings data on Thursday, October 25th. The construction company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.12. Emcor Group had a return on equity of 15.96% and a net margin of 3.27%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.95 billion.
Several equities research analysts have issued reports on the company. DA Davidson upgraded Emcor Group from a “neutral” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Thursday, October 25th. They noted that the move was a valuation call. ValuEngine downgraded Emcor Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research downgraded Emcor Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th.
EME stock opened at $66.46 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.44 and a debt-to-equity ratio of 0.16. Emcor Group has a 52-week low of $63.81 and a 52-week high of $85.08. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 0.94 and a beta of 0.97.
Emcor Group announced that its board has initiated a stock repurchase program on Thursday, October 25th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Emcor Group news, Director William P. Reid sold 1,900 shares of Emcor Group stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $71.69, for a total transaction of $136,211.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.20% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of EME. Allianz Asset Management GmbH acquired a new position in shares of Emcor Group in the 3rd quarter worth approximately $22,648,000. BlackRock Inc. grew its position in shares of Emcor Group by 3.8% in the 3rd quarter. BlackRock Inc. now owns 6,731,040 shares of the construction company’s stock worth $505,568,000 after acquiring an additional 247,310 shares in the last quarter. Deutsche Bank AG grew its position in shares of Emcor Group by 66.7% in the 3rd quarter. Deutsche Bank AG now owns 556,699 shares of the construction company’s stock worth $41,811,000 after acquiring an additional 222,806 shares in the last quarter. Systematic Financial Management LP grew its position in shares of Emcor Group by 86.9% in the 2nd quarter. Systematic Financial Management LP now owns 455,583 shares of the construction company’s stock worth $34,706,000 after acquiring an additional 211,837 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Emcor Group in the 2nd quarter worth approximately $15,268,000. Institutional investors own 93.05% of the company’s stock.
Emcor Group Company Profile
EMCOR Group, Inc provides electrical and mechanical construction, and facilities services in the United States. The company designs, integrates, installs, starts-up, operates, and maintains electric power transmission and distribution systems; premises electrical and lighting systems; process instrumentation in the refining, chemical process, food process, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, and controls and filtration systems; roadway and transit lighting and fiber-optic lines; heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems; plumbing, processing, and piping systems; and central plant heating and cooling systems, as well as offers cranes and rigging, millwrighting, and steel fabrication, erection, and welding services.
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