$2.15 Billion in Sales Expected for Emcor Group Inc (NYSE:EME) This Quarter
Equities research analysts forecast that Emcor Group Inc (NYSE:EME) will announce sales of $2.15 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Emcor Group’s earnings, with the highest sales estimate coming in at $2.18 billion and the lowest estimate coming in at $2.12 billion. Emcor Group reported sales of $2.05 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.9%. The business is scheduled to issue its next quarterly earnings results on Thursday, October 24th.
On average, analysts expect that Emcor Group will report full-year sales of $8.83 billion for the current fiscal year, with estimates ranging from $8.59 billion to $8.98 billion. For the next financial year, analysts anticipate that the firm will post sales of $9.09 billion, with estimates ranging from $8.86 billion to $9.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Emcor Group.
Emcor Group (NYSE:EME) last released its earnings results on Tuesday, July 30th. The construction company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.19. Emcor Group had a net margin of 3.58% and a return on equity of 17.47%. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same period in the prior year, the company posted $1.21 EPS. The company’s revenue was up 19.0% compared to the same quarter last year.
In related news, CFO Mark A. Pompa sold 12,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $85.00, for a total value of $1,020,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in EME. Geode Capital Management LLC boosted its position in Emcor Group by 13.6% during the fourth quarter. Geode Capital Management LLC now owns 900,415 shares of the construction company’s stock worth $53,745,000 after purchasing an additional 107,927 shares during the period. Sciencast Management LP acquired a new stake in shares of Emcor Group during the first quarter worth $208,000. Meeder Asset Management Inc. lifted its holdings in shares of Emcor Group by 1,461.2% during the first quarter. Meeder Asset Management Inc. now owns 4,262 shares of the construction company’s stock worth $311,000 after buying an additional 3,989 shares in the last quarter. Oakbrook Investments LLC acquired a new stake in shares of Emcor Group during the first quarter worth $234,000. Finally, Foundry Partners LLC lifted its holdings in shares of Emcor Group by 9.0% during the first quarter. Foundry Partners LLC now owns 221,357 shares of the construction company’s stock worth $16,177,000 after buying an additional 18,223 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.
Shares of NYSE:EME traded up $0.01 during mid-day trading on Friday, reaching $83.12. The stock had a trading volume of 22,865 shares, compared to its average volume of 353,781. The firm has a market cap of $4.64 billion, a PE ratio of 16.92 and a beta of 1.16. The firm has a 50 day simple moving average of $84.54 and a two-hundred day simple moving average of $78.95. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.25. Emcor Group has a twelve month low of $57.29 and a twelve month high of $89.54.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Friday, July 19th were given a $0.08 dividend. The ex-dividend date was Thursday, July 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.38%. Emcor Group’s dividend payout ratio is 6.52%.
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, as well as offers crane, rigging, and millwright; and steel fabrication, erection, and welding services.
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