$2.30 Billion in Sales Expected for Emcor Group Inc (NYSE:EME) This Quarter

Wall Street analysts expect that Emcor Group Inc (NYSE:EME) will announce sales of $2.30 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Emcor Group’s earnings. The lowest sales estimate is $2.24 billion and the highest is $2.36 billion. Emcor Group reported sales of $2.23 billion during the same quarter last year, which would suggest a positive year over year growth rate of 3.1%. The business is scheduled to report its next earnings report on Thursday, February 20th.

On average, analysts expect that Emcor Group will report full year sales of $9.07 billion for the current fiscal year, with estimates ranging from $9.01 billion to $9.13 billion. For the next financial year, analysts forecast that the firm will report sales of $9.49 billion, with estimates ranging from $9.29 billion to $9.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Emcor Group.

Emcor Group (NYSE:EME) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.04. Emcor Group had a net margin of 3.51% and a return on equity of 17.11%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the business posted $1.36 earnings per share. Emcor Group’s revenue for the quarter was up 11.8% on a year-over-year basis.

Several equities research analysts have issued reports on the stock. DA Davidson lifted their target price on shares of Emcor Group to $107.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. Maxim Group reiterated a “hold” rating and set a $95.00 target price on shares of Emcor Group in a research report on Thursday, October 31st. Finally, ValuEngine lowered shares of Emcor Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $98.50.

Emcor Group stock traded up $0.28 during mid-day trading on Monday, hitting $88.29. 14,568 shares of the company traded hands, compared to its average volume of 213,263. Emcor Group has a one year low of $57.29 and a one year high of $93.54. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 17.80 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.40 and a current ratio of 1.43. The stock has a fifty day moving average price of $89.18 and a 200-day moving average price of $85.90.

In other news, CEO Anthony Guzzi sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $89.04, for a total value of $445,200.00. Following the completion of the sale, the chief executive officer now directly owns 354,146 shares in the company, valued at approximately $31,533,159.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in EME. York Capital Management Global Advisors LLC bought a new stake in shares of Emcor Group in the 2nd quarter worth approximately $104,276,000. Nuveen Asset Management LLC lifted its holdings in shares of Emcor Group by 188.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,183,419 shares of the construction company’s stock worth $104,259,000 after acquiring an additional 773,392 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Emcor Group by 16.1% in the 2nd quarter. Prudential Financial Inc. now owns 1,454,913 shares of the construction company’s stock worth $128,178,000 after acquiring an additional 202,296 shares during the last quarter. Carlson Capital L P lifted its holdings in shares of Emcor Group by 53.1% in the 2nd quarter. Carlson Capital L P now owns 400,000 shares of the construction company’s stock worth $35,240,000 after acquiring an additional 138,716 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Emcor Group by 2,477.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 143,467 shares of the construction company’s stock worth $12,354,000 after acquiring an additional 137,900 shares during the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

About Emcor Group

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 and food processing, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, controls and filtration, central plant heating and cooling, plumbing, process, and piping systems; roadway and transit lighting, and fiber-optic lines; and heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems, as well as offers crane, rigging, and millwright; and steel fabrication, erection, and welding services.

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