Emcor Group Inc (NYSE:EME) to Post Q2 2020 Earnings of $1.03 Per Share, KeyCorp Forecasts
Emcor Group Inc (NYSE:EME) – Equities researchers at KeyCorp increased their Q2 2020 earnings per share estimates for shares of Emcor Group in a research note issued to investors on Tuesday, July 28th. KeyCorp analyst S. Eastman now forecasts that the construction company will post earnings per share of $1.03 for the quarter, up from their prior estimate of $0.67. KeyCorp also issued estimates for Emcor Group’s Q3 2020 earnings at $1.18 EPS, Q4 2020 earnings at $1.19 EPS, FY2020 earnings at $4.75 EPS and FY2021 earnings at $5.16 EPS.
A number of other analysts have also recently issued reports on the stock. ValuEngine upgraded shares of Emcor Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Zacks Investment Research raised shares of Emcor Group from a “hold” rating to a “strong-buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, July 7th. Sidoti raised shares of Emcor Group from a “neutral” rating to a “buy” rating in a research report on Wednesday. DA Davidson lowered shares of Emcor Group from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research report on Friday, May 1st. Finally, Maxim Group reissued a “hold” rating and issued a $60.00 price target on shares of Emcor Group in a research report on Wednesday, April 22nd. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Emcor Group presently has an average rating of “Buy” and an average target price of $66.33.
Emcor Group (NYSE:EME) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.35 EPS for the quarter, hitting the consensus estimate of $1.35. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Emcor Group had a net margin of 3.53% and a return on equity of 16.51%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Monday, July 20th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Friday, July 17th. Emcor Group’s dividend payout ratio (DPR) is currently 5.57%.
A number of hedge funds have recently made changes to their positions in the stock. Mitchell Capital Management Co. increased its position in Emcor Group by 1.5% during the first quarter. Mitchell Capital Management Co. now owns 13,071 shares of the construction company’s stock worth $802,000 after acquiring an additional 196 shares during the period. Mackay Shields LLC increased its holdings in Emcor Group by 0.5% in the 2nd quarter. Mackay Shields LLC now owns 60,900 shares of the construction company’s stock valued at $4,028,000 after buying an additional 300 shares during the period. Bowling Portfolio Management LLC increased its holdings in Emcor Group by 2.9% in the 1st quarter. Bowling Portfolio Management LLC now owns 13,090 shares of the construction company’s stock valued at $803,000 after buying an additional 367 shares during the period. ETF Managers Group LLC increased its holdings in Emcor Group by 11.4% in the 1st quarter. ETF Managers Group LLC now owns 3,880 shares of the construction company’s stock valued at $229,000 after buying an additional 396 shares during the period. Finally, Synovus Financial Corp increased its holdings in Emcor Group by 136.0% in the 1st quarter. Synovus Financial Corp now owns 689 shares of the construction company’s stock valued at $42,000 after buying an additional 397 shares during the period. 92.94% of the stock is currently owned by institutional investors and hedge funds.
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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