EMCOR Group (NYSE:EME) Posts Quarterly Earnings Results, Misses Estimates By $0.17 EPS

EMCOR Group (NYSE:EMEGet Rating) issued its earnings results on Thursday. The construction company reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($0.17), MarketWatch Earnings reports. EMCOR Group had a return on equity of 17.82% and a net margin of 3.87%. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business earned $1.54 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. EMCOR Group updated its FY22 guidance to $7.15-7.85 EPS.

EME stock traded up $1.09 during midday trading on Friday, hitting $106.48. 534,165 shares of the stock traded hands, compared to its average volume of 393,758. The firm has a market cap of $5.61 billion, a P/E ratio of 15.41 and a beta of 1.22. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.44 and a quick ratio of 1.41. The stock’s fifty day simple moving average is $114.76 and its 200-day simple moving average is $119.99. EMCOR Group has a 1-year low of $104.75 and a 1-year high of $135.98.

The company also recently declared a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Monday, April 18th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, April 14th. This represents a $0.52 annualized dividend and a yield of 0.49%. EMCOR Group’s dividend payout ratio is presently 7.53%.

Several research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of EMCOR Group in a report on Thursday, March 31st. They set a “strong-buy” rating for the company. Zacks Investment Research raised shares of EMCOR Group from a “sell” rating to a “hold” rating and set a $118.00 target price for the company in a report on Wednesday, March 9th. Finally, DA Davidson upgraded shares of EMCOR Group from a “neutral” rating to a “buy” rating and set a $142.00 price target on the stock in a research report on Friday, February 25th.

In other news, CEO Anthony Guzzi sold 1,381 shares of EMCOR Group stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $120.00, for a total value of $165,720.00. Following the sale, the chief executive officer now owns 291,256 shares in the company, valued at $34,950,720. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JustInvest LLC acquired a new stake in shares of EMCOR Group in the fourth quarter valued at about $218,000. Vident Investment Advisory LLC boosted its position in EMCOR Group by 4.2% during the fourth quarter. Vident Investment Advisory LLC now owns 17,821 shares of the construction company’s stock worth $2,271,000 after acquiring an additional 714 shares during the last quarter. Forum Financial Management LP acquired a new position in EMCOR Group during the fourth quarter worth about $205,000. NewEdge Advisors LLC boosted its position in EMCOR Group by 2.4% during the fourth quarter. NewEdge Advisors LLC now owns 11,495 shares of the construction company’s stock worth $1,464,000 after acquiring an additional 265 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in EMCOR Group by 51.5% during the fourth quarter. Allianz Asset Management GmbH now owns 50,123 shares of the construction company’s stock worth $6,386,000 after acquiring an additional 17,029 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

EMCOR Group Company Profile (Get Rating)

EMCOR Group, Inc provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, starts-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.

Further Reading

Earnings History for EMCOR Group (NYSE:EME)

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