Emcor Group Inc. (EME) Downgraded by Zacks Investment Research to “Hold”
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.”
Several other equities research analysts also recently weighed in on the stock. FBR & Co raised their price target on shares of Emcor Group from $52.00 to $62.00 and gave the company a mkt perform rating in a research report on Tuesday, August 16th. Sidoti began coverage on shares of Emcor Group in a research report on Tuesday, June 21st. They issued a buy rating for the company. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Emcor Group has an average rating of Buy and an average target price of $57.00.
Shares of Emcor Group (NYSE:EME) traded down 0.62% during midday trading on Wednesday, hitting $58.88. The company had a trading volume of 19,416 shares. The firm has a market capitalization of $3.58 billion, a P/E ratio of 20.11 and a beta of 1.15. The stock has a 50 day moving average price of $57.10 and a 200 day moving average price of $51.00. Emcor Group has a 1-year low of $40.98 and a 1-year high of $59.30.
Emcor Group (NYSE:EME) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.24. The company earned $1.93 billion during the quarter, compared to the consensus estimate of $1.75 billion. Emcor Group had a net margin of 2.55% and a return on equity of 12.33%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. On average, equities analysts anticipate that Emcor Group will post $3.10 EPS for the current fiscal year.
In other Emcor Group news, Director Jerry E. Ryan sold 6,202 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $55.42, for a total value of $343,714.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maxine Lum Mauricio sold 1,386 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $56.35, for a total transaction of $78,101.10. Following the completion of the sale, the senior vice president now owns 15,493 shares in the company, valued at approximately $873,030.55. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Manchester Capital Management LLC bought a new stake in shares of Emcor Group during the first quarter valued at approximately $107,000. Bruderman Asset Management LLC bought a new stake in shares of Emcor Group during the second quarter valued at approximately $124,000. Carnick & Kubik LLC bought a new stake in shares of Emcor Group during the first quarter valued at approximately $126,000. Bessemer Group Inc. boosted its stake in shares of Emcor Group by 100.1% in the second quarter. Bessemer Group Inc. now owns 3,227 shares of the company’s stock valued at $159,000 after buying an additional 1,614 shares during the last quarter. Finally, BlackRock Japan Co. Ltd bought a new stake in shares of Emcor Group during the first quarter valued at approximately $170,000. Institutional investors and hedge funds own 96.88% of the company’s stock.
Emcor Group Company Profile
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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