Emcor Group Inc. (NYSE:EME) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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.”
EME has been the topic of a number of other reports. Sidoti started coverage on Emcor Group in a report on Tuesday, June 21st. They issued a “buy” rating on the stock. FBR & Co lifted their target price on Emcor Group from $52.00 to $62.00 and gave the stock a “mkt perform” rating in a report on Tuesday, August 16th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $57.00.
Shares of Emcor Group (NYSE:EME) opened at 59.31 on Wednesday. Emcor Group has a 52 week low of $40.98 and a 52 week high of $59.76. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 20.26 and a beta of 1.15. The firm’s 50-day moving average price is $57.18 and its 200 day moving average price is $51.06.
Emcor Group (NYSE:EME) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.24. Emcor Group had a return on equity of 12.33% and a net margin of 2.55%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, analysts anticipate that Emcor Group will post $3.10 EPS for the current year.
In related news, SVP Maxine Lum Mauricio sold 1,386 shares of Emcor Group 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 of the company’s stock, valued at $873,030.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jerry E. Ryan sold 6,202 shares of Emcor Group 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 disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in EME. 1st Global Advisors Inc. boosted its stake in Emcor Group by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 5,637 shares of the company’s stock worth $278,000 after buying an additional 32 shares during the last quarter. OLD National Bancorp IN boosted its stake in Emcor Group by 2.7% in the second quarter. OLD National Bancorp IN now owns 5,621 shares of the company’s stock worth $277,000 after buying an additional 150 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Emcor Group by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 48,300 shares of the company’s stock worth $2,379,000 after buying an additional 200 shares during the last quarter. Sii Investments Inc. WI boosted its stake in Emcor Group by 4.3% in the second quarter. Sii Investments Inc. WI now owns 6,788 shares of the company’s stock worth $334,000 after buying an additional 280 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in Emcor Group by 2.9% in the second quarter. United Services Automobile Association now owns 9,890 shares of the company’s stock worth $487,000 after buying an additional 280 shares during the last quarter. 96.88% of the stock is 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 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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