Emcor Group (NYSE:EME) posted its earnings results on Thursday. The construction company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27, Bloomberg Earnings reports. Emcor Group had a return on equity of 13.94% and a net margin of 2.82%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Emcor Group updated its FY18 guidance to $4.10-4.70 EPS.
Shares of Emcor Group (EME) opened at $76.19 on Friday. 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 $4,435.74, a P/E ratio of 21.28, a P/E/G ratio of 1.25 and a beta of 0.96. Emcor Group has a 52 week low of $59.76 and a 52 week high of $85.08.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, January 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Emcor Group’s payout ratio is currently 8.94%.
In related news, Director William P. Reid sold 4,647 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $82.90, for a total value of $385,236.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Emcor Group in the 3rd quarter worth approximately $3,195,000. Train Babcock Advisors LLC grew its stake in shares of Emcor Group by 4.4% in the 3rd quarter. Train Babcock Advisors LLC now owns 43,680 shares of the construction company’s stock worth $3,030,000 after buying an additional 1,835 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Emcor Group by 6.5% in the 3rd quarter. Wells Fargo & Company MN now owns 1,068,029 shares of the construction company’s stock worth $74,100,000 after buying an additional 65,047 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Emcor Group by 5.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 77,177 shares of the construction company’s stock worth $5,355,000 after buying an additional 3,849 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in shares of Emcor Group in the 3rd quarter worth approximately $298,000. Institutional investors own 95.19% of the company’s stock.
Emcor Group announced that its board has authorized a stock repurchase program on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $88.00 target price (up previously from $75.00) on shares of Emcor Group in a report on Wednesday, November 1st. ValuEngine downgraded Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, KeyCorp reiterated a “hold” rating on shares of Emcor Group in a report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $88.50.
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Emcor Group Company Profile
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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