Zacks: Brokerages Anticipate Emcor Group Inc (NYSE:EME) Will Post Quarterly Sales of $2.09 Billion

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Wall Street brokerages expect Emcor Group Inc (NYSE:EME) to post sales of $2.09 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Emcor Group’s earnings. The lowest sales estimate is $2.08 billion and the highest is $2.10 billion. Emcor Group posted sales of $1.95 billion in the same quarter last year, which would indicate a positive year over year growth rate of 7.2%. The firm is expected to announce its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that Emcor Group will report full-year sales of $8.63 billion for the current year, with estimates ranging from $8.59 billion to $8.68 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.85 billion, with estimates ranging from $8.80 billion to $8.90 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Emcor Group.

Emcor Group (NYSE:EME) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.23. Emcor Group had a return on equity of 17.18% and a net margin of 3.58%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year.

Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Emcor Group from a “hold” rating to a “strong-buy” rating and set a $97.00 target price on the stock in a research note on Thursday, May 2nd. Maxim Group set a $73.00 target price on Emcor Group and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, ValuEngine upgraded Emcor Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th.

In other news, CFO Mark A. Pompa sold 8,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $80.00, for a total transaction of $640,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Anthony Guzzi sold 7,232 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $75.06, for a total value of $542,833.92. Following the sale, the chairman now owns 402,455 shares in the company, valued at approximately $30,208,272.30. The disclosure for this sale can be found here. Insiders have sold 28,546 shares of company stock worth $2,219,188 in the last 90 days. Insiders own 1.90% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Two Sigma Advisers LP grew its stake in shares of Emcor Group by 25.0% during the fourth quarter. Two Sigma Advisers LP now owns 106,980 shares of the construction company’s stock worth $6,386,000 after acquiring an additional 21,389 shares during the last quarter. Premier Asset Management LLC acquired a new stake in shares of Emcor Group during the fourth quarter worth about $325,000. ClariVest Asset Management LLC lifted its holdings in shares of Emcor Group by 25.1% during the fourth quarter. ClariVest Asset Management LLC now owns 129,861 shares of the construction company’s stock worth $7,753,000 after purchasing an additional 26,080 shares during the period. Brinker Capital Inc. lifted its holdings in shares of Emcor Group by 12.5% during the fourth quarter. Brinker Capital Inc. now owns 23,872 shares of the construction company’s stock worth $1,425,000 after purchasing an additional 2,661 shares during the period. Finally, Fiera Capital Corp lifted its holdings in shares of Emcor Group by 28.1% during the fourth quarter. Fiera Capital Corp now owns 737,008 shares of the construction company’s stock worth $43,992,000 after purchasing an additional 161,524 shares during the period. Institutional investors and hedge funds own 93.76% of the company’s stock.

EME opened at $84.23 on Monday. Emcor Group has a 1 year low of $57.29 and a 1 year high of $85.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.36 and a current ratio of 1.38. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 1.03 and a beta of 1.18.

Emcor Group Company Profile

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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