According to Zacks, “EMCOR has had a choppy earnings beat history, having missed estimates twice for as many beats over the four trailing quarters. In the last reported quarter, the company’s top-line growth was driven by U.S. Mechanical Construction and Industrial Services segments. Going forward, the U.S. Electrical Construction segment stands to benefit from the Ardent acquisition. Encouraged by its solid top line performance and accretive acquisitions, EMCOR’s management raised 2016 guidance for the second time. However, EMCOR’s Industrial Services business remains vulnerable to intensifying competition, while the U.S. Electrical Construction segment is suffering losses on quite a few transportation projects. Also, macroeconomic issues like volatility in oil & gas and currency remain formidable headwinds for EMCOR. Also, strong competition coupled with a large number of fixed-price contracts add to the company's woes.”
A number of other analysts have also weighed in on EME. FBR & Co increased their price objective on shares of Emcor Group from $52.00 to $62.00 and gave the stock a mkt perform rating in a research note on Tuesday, August 16th. Sidoti began coverage on shares of Emcor Group in a research report on Tuesday, June 21st. They set a buy rating on the stock. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Emcor Group presently has a consensus rating of Buy and an average price target of $57.00.
Shares of Emcor Group (NYSE:EME) traded down 0.62% during mid-day trading on Wednesday, hitting $58.88. 19,416 shares of the stock traded hands. The company has a market cap of $3.58 billion, a P/E ratio of 20.11 and a beta of 1.15. The firm has a 50 day moving average of $57.10 and a 200 day moving average of $51.00. Emcor Group has a 12 month low of $40.98 and a 12 month high of $59.30.
Emcor Group (NYSE:EME) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.24. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.75 billion. Emcor Group had a net margin of 2.55% and a return on equity of 12.33%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. Equities analysts anticipate that Emcor Group will post $3.10 EPS for the current fiscal year.
In other news, SVP Maxine Lum Mauricio sold 1,386 shares of Emcor Group stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $56.35, for a total value of $78,101.10. Following the sale, the senior vice president now owns 15,493 shares in the company, valued at $873,030.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David A. B. Brown sold 5,851 shares of Emcor Group stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $55.25, for a total transaction of $323,267.75. Following the completion of the sale, the director now owns 22,076 shares in the company, valued at approximately $1,219,699. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in EME. Vanguard Group Inc. raised its stake in shares of Emcor Group by 5.0% in the second quarter. Vanguard Group Inc. now owns 4,765,101 shares of the company’s stock valued at $234,729,000 after buying an additional 227,669 shares during the period. Victory Capital Management Inc. raised its stake in shares of Emcor Group by 6.1% in the second quarter. Victory Capital Management Inc. now owns 2,637,753 shares of the company’s stock valued at $129,935,000 after buying an additional 151,019 shares during the period. State Street Corp raised its stake in shares of Emcor Group by 51.8% in the second quarter. State Street Corp now owns 1,965,686 shares of the company’s stock valued at $96,827,000 after buying an additional 670,717 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Emcor Group by 9.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,887,148 shares of the company’s stock valued at $92,961,000 after buying an additional 165,715 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of Emcor Group by 8.5% in the second quarter. Silvercrest Asset Management Group LLC now owns 1,720,061 shares of the company’s stock valued at $84,730,000 after buying an additional 135,252 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.
About Emcor Group
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides a number of building services and industrial services. The Company’s 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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