Emcor Group Inc (NYSE:EME) Expected to Post Quarterly Sales of $2.30 Billion

Equities analysts expect Emcor Group Inc (NYSE:EME) to report sales of $2.30 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Emcor Group’s earnings, with the highest sales estimate coming in at $2.36 billion and the lowest estimate coming in at $2.24 billion. Emcor Group reported sales of $2.23 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The company is expected to report its next earnings results 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 fiscal year, analysts forecast that the company will post sales of $9.49 billion, with estimates ranging from $9.29 billion to $9.70 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Emcor Group.

Emcor Group (NYSE:EME) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.04. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.17 billion. Emcor Group had a net margin of 3.51% and a return on equity of 17.11%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share.

Several brokerages have recently weighed in on EME. DA Davidson upped their price target on 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 price target on shares of Emcor Group in a research report on Thursday, October 31st. Finally, ValuEngine cut Emcor Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $98.50.

NYSE EME traded down $0.56 during trading on Monday, hitting $87.76. 236,347 shares of the company’s stock traded hands, compared to its average volume of 215,634. The business has a 50 day moving average of $89.15 and a 200-day moving average of $85.96. Emcor Group has a 12-month low of $57.29 and a 12-month high of $93.54. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 17.87 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.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Emcor Group by 1.6% in the second quarter. Vanguard Group Inc. now owns 5,478,082 shares of the construction company’s stock worth $482,620,000 after purchasing an additional 87,158 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Emcor Group by 16.1% in the second quarter. Prudential Financial Inc. now owns 1,454,913 shares of the construction company’s stock worth $128,178,000 after purchasing an additional 202,296 shares during the last quarter. York Capital Management Global Advisors LLC bought a new position in shares of Emcor Group in the second quarter worth approximately $104,276,000. Nuveen Asset Management LLC increased its position in shares of Emcor Group by 188.6% in the second quarter. Nuveen Asset Management LLC now owns 1,183,419 shares of the construction company’s stock worth $104,259,000 after purchasing an additional 773,392 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its position in shares of Emcor Group by 4.1% in the third quarter. TimesSquare Capital Management LLC now owns 1,044,610 shares of the construction company’s stock worth $89,962,000 after purchasing an additional 41,110 shares during the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

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 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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