EMCOR Group, Inc. (EME) Releases Earnings Results, Beats Estimates By $0.12 EPS

EMCOR Group, Inc. (NYSE:EME) posted its quarterly earnings results on Thursday. The construction company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.12, Bloomberg Earnings reports. EMCOR Group had a net margin of 2.60% and a return on equity of 13.37%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business posted $0.95 earnings per share. EMCOR Group’s revenue for the quarter was down 1.9% compared to the same quarter last year. EMCOR Group updated its FY17 guidance to $3.40-3.60 EPS.

EMCOR Group (NYSE:EME) traded up 7.88% during midday trading on Thursday, reaching $68.71. 800,634 shares of the company’s stock were exchanged. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 20.94 and a beta of 0.88. EMCOR Group has a 52 week low of $53.16 and a 52 week high of $73.44. The firm has a 50-day moving average price of $65.39 and a 200 day moving average price of $65.18.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Monday, July 17th will be issued 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 is Thursday, July 13th. EMCOR Group’s dividend payout ratio (DPR) is 9.76%.

EME has been the subject of a number of recent research reports. BidaskClub cut shares of EMCOR Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of EMCOR Group from a “sell” rating to a “hold” rating and set a $74.00 price target for the company in a report on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $69.25.

A number of institutional investors have recently made changes to their positions in EME. Goldman Sachs Group Inc. boosted its position in shares of EMCOR Group by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,570,968 shares of the construction company’s stock valued at $98,893,000 after buying an additional 25,422 shares during the period. Foundry Partners LLC boosted its position in shares of EMCOR Group by 3.4% in the first quarter. Foundry Partners LLC now owns 174,853 shares of the construction company’s stock valued at $11,007,000 after buying an additional 5,780 shares during the period. BB&T Securities LLC acquired a new position in shares of EMCOR Group during the first quarter valued at about $228,000. Bank of America Corp DE boosted its position in shares of EMCOR Group by 6.3% in the first quarter. Bank of America Corp DE now owns 484,259 shares of the construction company’s stock valued at $30,484,000 after buying an additional 28,545 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of EMCOR Group during the first quarter valued at about $1,973,000. Hedge funds and other institutional investors own 93.98% of the company’s stock.

About EMCOR Group

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.