Wall Street analysts expect Emcor Group Inc (NYSE:EME) to post $2.05 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Emcor Group’s earnings. The highest sales estimate is $2.08 billion and the lowest is $2.02 billion. Emcor Group reported sales of $2.01 billion during the same quarter last year, which indicates a positive year over year growth rate of 2%. The company is scheduled to announce 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 financial year, with estimates ranging from $7.92 billion to $7.98 billion. For the next fiscal year, analysts forecast that the company will post 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 sell-side analysts that cover Emcor Group.
Emcor Group (NYSE:EME) last posted its earnings results on Thursday, October 25th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.12. Emcor Group had a net margin of 3.27% and a return on equity of 15.96%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.95 billion.
NYSE:EME traded up $0.50 during midday trading on Thursday, reaching $72.14. The stock had a trading volume of 147,398 shares, compared to its average volume of 511,276. Emcor Group has a 1-year low of $63.81 and a 1-year high of $85.08. The company has a current ratio of 1.46, a quick ratio of 1.44 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.12 billion, a PE ratio of 17.77, a PEG ratio of 0.98 and a beta of 0.99.
Emcor Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Monday, October 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, October 12th. Emcor Group’s dividend payout ratio (DPR) is presently 7.88%.
In other Emcor Group news, Director William P. Reid sold 1,900 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in EME. Allianz Asset Management GmbH bought a new position in shares of Emcor Group during the 3rd quarter worth about $22,648,000. BlackRock Inc. lifted its holdings in shares of Emcor Group by 3.8% during 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 during the period. Deutsche Bank AG lifted its holdings in shares of Emcor Group by 66.7% during 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 during the period. Systematic Financial Management LP lifted its holdings in shares of Emcor Group by 86.9% during 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 during the period. Finally, Marshall Wace LLP bought a new position in shares of Emcor Group during the 2nd quarter worth about $15,268,000. 92.85% of the stock is owned by institutional investors.
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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