ValuEngine Downgrades EMCOR Group, Inc. (EME) to Hold
EMCOR Group, Inc. (NYSE:EME) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Tuesday.
Several other research firms have also weighed in on EME. Stifel Nicolaus reiterated a “buy” rating and issued a $88.00 price objective (up previously from $75.00) on shares of EMCOR Group in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Tuesday, October 31st. BidaskClub lowered shares of EMCOR Group from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, KeyCorp reiterated a “hold” rating on shares of EMCOR Group in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $83.33.
EMCOR Group (EME) opened at $76.86 on Tuesday. The stock has a market cap of $4,589.83, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.02. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. EMCOR Group has a fifty-two week low of $59.76 and a fifty-two week high of $81.77.
EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, October 26th. The construction company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.27. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.93 billion. EMCOR Group had a net margin of 2.82% and a return on equity of 13.94%. EMCOR Group’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. sell-side analysts forecast that EMCOR Group will post 3.79 earnings per share for the current year.
EMCOR Group announced that its Board of Directors has approved a share buyback plan on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the construction company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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In other EMCOR Group news, Director Jerry E. Ryan sold 13,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $78.06, for a total transaction of $1,014,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of EME. Renaissance Technologies LLC purchased a new position in EMCOR Group during the 1st quarter worth $1,574,000. Credit Suisse AG boosted its holdings in EMCOR Group by 24.9% during the 1st quarter. Credit Suisse AG now owns 107,145 shares of the construction company’s stock worth $6,744,000 after acquiring an additional 21,379 shares during the last quarter. Capstone Asset Management Co. boosted its holdings in EMCOR Group by 8.0% during the 2nd quarter. Capstone Asset Management Co. now owns 4,702 shares of the construction company’s stock worth $307,000 after acquiring an additional 350 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in EMCOR Group by 4.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 22,254 shares of the construction company’s stock worth $1,455,000 after acquiring an additional 964 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its holdings in EMCOR Group by 14.7% during the 2nd quarter. LS Investment Advisors LLC now owns 4,718 shares of the construction company’s stock worth $308,000 after acquiring an additional 603 shares during the last quarter. 94.06% of the stock is currently owned by hedge funds and other institutional investors.
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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