Wall Street brokerages forecast that EMCOR Group, Inc. (NYSE:EME) will post $2.19 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for EMCOR Group’s earnings, with estimates ranging from $2.19 billion to $2.20 billion. EMCOR Group posted sales of $2.40 billion in the same quarter last year, which would indicate a negative year over year growth rate of 8.8%. The company is scheduled to report its next earnings results before the market opens on Thursday, February 25th.
According to Zacks, analysts expect that EMCOR Group will report full year sales of $8.71 billion for the current year. For the next year, analysts expect that the firm will report sales of $8.80 billion, with estimates ranging from $8.76 billion to $8.84 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for EMCOR Group.
A number of brokerages have issued reports on EME. Sidoti downgraded shares of EMCOR Group from a “buy” rating to a “neutral” rating and set a $102.00 price objective on the stock. in a research report on Thursday, January 21st. TheStreet raised shares of EMCOR Group from a “c+” rating to a “b-” rating in a research report on Tuesday, November 3rd. Finally, DA Davidson boosted their price objective on shares of EMCOR Group from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 23rd. Three analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $80.25.
In other news, EVP R Kevin Matz sold 10,000 shares of the company’s stock in a transaction dated Monday, November 30th. The shares were sold at an average price of $87.74, for a total value of $877,400.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. CI Investments Inc. grew its position in EMCOR Group by 112.8% during the 4th quarter. CI Investments Inc. now owns 317 shares of the construction company’s stock valued at $29,000 after purchasing an additional 168 shares during the last quarter. NEXT Financial Group Inc purchased a new stake in EMCOR Group during the 3rd quarter valued at about $32,000. Wolff Wiese Magana LLC purchased a new stake in EMCOR Group during the 4th quarter valued at about $63,000. Steward Partners Investment Advisory LLC grew its position in EMCOR Group by 26.3% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,763 shares of the construction company’s stock valued at $119,000 after purchasing an additional 367 shares during the last quarter. Finally, Fieldpoint Private Securities LLC purchased a new stake in EMCOR Group during the 4th quarter valued at about $161,000. 93.31% of the stock is currently owned by institutional investors.
EMCOR Group stock traded up $1.65 during mid-day trading on Tuesday, reaching $95.09. 211,509 shares of the company traded hands, compared to its average volume of 220,746. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.46 and a quick ratio of 1.44. The firm’s 50 day moving average price is $94.76 and its 200 day moving average price is $81.80. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 38.32 and a beta of 1.18. EMCOR Group has a 52-week low of $41.85 and a 52-week high of $101.33.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 29th. Stockholders of record on Tuesday, January 19th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, January 15th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.08. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.55%. EMCOR Group’s dividend payout ratio is currently 9.04%.
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.
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