$1.93 Billion in Sales Expected for Emcor Group Inc (EME) This Quarter

Analysts expect that Emcor Group Inc (NYSE:EME) will announce $1.93 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Emcor Group’s earnings. The highest sales estimate is $1.96 billion and the lowest is $1.91 billion. Emcor Group reported sales of $1.95 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 1%. The firm is scheduled to announce its next earnings results on Thursday, February 22nd.

On average, analysts expect that Emcor Group will report full year sales of $1.93 billion for the current financial year, with estimates ranging from $7.59 billion to $7.63 billion. For the next fiscal year, analysts forecast that the company will report sales of $7.95 billion per share, with estimates ranging from $7.88 billion to $8.04 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Emcor Group.

Emcor Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 26th. The construction company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.27. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Emcor Group had a net margin of 2.82% and a return on equity of 13.94%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share.

A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of Emcor Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Stifel Nicolaus restated a “buy” rating and set a $88.00 price objective (up from $75.00) on shares of Emcor Group in a research report on Wednesday, November 1st. KeyCorp restated a “hold” rating on shares of Emcor Group in a research report on Friday, November 17th. Finally, ValuEngine cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Emcor Group currently has a consensus rating of “Hold” and an average price target of $88.50.

Emcor Group (NYSE EME) traded up $1.12 during trading hours on Friday, reaching $83.60. 627,612 shares of the company’s stock were exchanged, compared to its average volume of 246,746. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.41. The firm has a market capitalization of $4,850.96, a PE ratio of 23.35, a PEG ratio of 1.36 and a beta of 1.02. Emcor Group has a 52 week low of $59.76 and a 52 week high of $85.08.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Friday, January 12th. Emcor Group’s dividend payout ratio is presently 8.94%.

Emcor Group declared that its board has authorized a share buyback program on Thursday, October 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

In other news, Director William P. Reid sold 4,647 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $82.90, for a total value of $385,236.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry E. Ryan sold 13,000 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $78.06, for a total transaction of $1,014,780.00. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Emcor Group in the third quarter valued at about $3,195,000. Train Babcock Advisors LLC raised its position in shares of Emcor Group by 4.4% in the third quarter. Train Babcock Advisors LLC now owns 43,680 shares of the construction company’s stock valued at $3,030,000 after buying an additional 1,835 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Emcor Group by 6.5% in the third quarter. Wells Fargo & Company MN now owns 1,068,029 shares of the construction company’s stock valued at $74,100,000 after buying an additional 65,047 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Emcor Group by 5.2% in the third quarter. Advisors Asset Management Inc. now owns 77,177 shares of the construction company’s stock valued at $5,355,000 after buying an additional 3,849 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of Emcor Group in the second quarter valued at about $393,000. Institutional investors and hedge funds own 94.26% of the company’s stock.

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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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