Equities research analysts expect Emcor Group Inc (NYSE:EME) to report $2.05 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Emcor Groups earnings, with the lowest sales estimate coming in at $2.02 billion and the highest estimate coming in at $2.08 billion. Emcor Group reported sales of $2.01 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The company is scheduled to report its next quarterly earnings results on Thursday, February 28th.
On average, analysts expect that Emcor Group will report full-year sales of $7.96 billion for the current fiscal year, with estimates ranging from $7.92 billion to $7.98 billion. For the next fiscal year, analysts expect that the company will post sales of $8.23 billion, with estimates ranging from $8.18 billion to $8.31 billion. Zacks sales calculations are an average based on a survey of sell-side research analysts that cover Emcor Group.
Emcor Group (NYSE:EME) last released its quarterly earnings data on Thursday, October 25th. The construction company reported $1.35 earnings per share for the quarter, topping the Zacks consensus estimate of $1.23 by $0.12. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.95 billion. Emcor Group had a return on equity of 15.96% and a net margin of 3.27%.
A number of equities research analysts have commented on EME shares. DA Davidson upgraded Emcor Group from a neutral rating to a buy rating and set a $83.00 target price on the stock in a research report on Thursday, October 25th. They noted that the move was a valuation call. Zacks Investment Research upgraded Emcor Group from a hold rating to a buy rating and set a $84.00 target price on the stock in a research report on Monday, October 1st. Maxim Group started coverage on Emcor Group in a research report on Thursday, December 13th. They issued a hold rating and a $68.00 target price on the stock. Finally, ValuEngine downgraded Emcor Group from a hold rating to a sell rating in a research report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Emcor Group currently has an average rating of Hold and a consensus price target of $80.50.
In related news, Director Jerry E. Ryan sold 12,000 shares of the businesss stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $65.76, for a total value of $789,120.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William P. Reid sold 1,900 shares of the businesss stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $71.69, for a total value of $136,211.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Emcor Group by 3.8% in the 3rd quarter. BlackRock Inc. now owns 6,731,040 shares of the construction companys stock valued at $505,568,000 after buying an additional 247,310 shares during the period. Vanguard Group Inc. increased its holdings in Emcor Group by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,531,946 shares of the construction companys stock worth $415,505,000 after purchasing an additional 53,572 shares during the period. Vanguard Group Inc increased its holdings in Emcor Group by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 5,531,946 shares of the construction companys stock worth $415,505,000 after purchasing an additional 53,572 shares during the period. Prudential Financial Inc. increased its holdings in Emcor Group by 3.3% during the 3rd quarter. Prudential Financial Inc. now owns 1,222,818 shares of the construction companys stock worth $91,846,000 after purchasing an additional 38,718 shares during the period. Finally, Voya Investment Management LLC increased its holdings in Emcor Group by 11.1% during the 2nd quarter. Voya Investment Management LLC now owns 1,098,299 shares of the construction companys stock worth $83,668,000 after purchasing an additional 109,762 shares during the period. Hedge funds and other institutional investors own 92.75% of the companys stock.
NYSE:EME traded up $0.95 on Tuesday, reaching $62.35. The companys stock had a trading volume of 209,800 shares, compared to its average volume of 326,380. Emcor Group has a 12-month low of $57.29 and a 12-month high of $85.08. The company has a quick ratio of 1.44, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.47 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.78 and a beta of 1.12.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Friday, January 18th will be given a $0.08 dividend. The ex-dividend date is Thursday, January 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.51%. Emcor Groups dividend payout ratio is currently 7.88%.
Emcor Group announced that its board has initiated a stock buyback plan on Thursday, October 25th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are often a sign that the companys management believes its shares are undervalued.
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