FY2022 EPS Estimates for EMCOR Group, Inc. Lifted by Analyst (NYSE:EME)

EMCOR Group, Inc. (NYSE:EMEGet Rating) – Analysts at KeyCorp raised their FY2022 earnings estimates for shares of EMCOR Group in a report issued on Sunday, July 31st. KeyCorp analyst S. Eastman now expects that the construction company will post earnings per share of $7.80 for the year, up from their previous estimate of $7.76. KeyCorp currently has a “Overweight” rating and a $135.00 target price on the stock. The consensus estimate for EMCOR Group’s current full-year earnings is $7.69 per share. KeyCorp also issued estimates for EMCOR Group’s Q4 2022 earnings at $2.27 EPS, FY2023 earnings at $8.97 EPS and FY2024 earnings at $9.81 EPS.

EMCOR Group (NYSE:EMEGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The construction company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.31. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.60 billion. EMCOR Group had a net margin of 3.59% and a return on equity of 17.70%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share.

EME has been the topic of several other research reports. Sidoti raised shares of EMCOR Group from a “neutral” rating to a “buy” rating and set a $137.00 price objective on the stock in a research report on Monday, May 16th. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, EMCOR Group currently has a consensus rating of “Buy” and a consensus price target of $138.75.

EMCOR Group Price Performance

NYSE EME opened at $115.35 on Tuesday. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 16.20 and a beta of 1.15. The company has a 50 day simple moving average of $104.66 and a 200-day simple moving average of $110.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.30 and a quick ratio of 1.26. EMCOR Group has a 52-week low of $95.64 and a 52-week high of $135.98.

Institutional Trading of EMCOR Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in EME. Brown Advisory Inc. acquired a new position in shares of EMCOR Group during the 4th quarter worth about $419,000. State of Michigan Retirement System grew its position in shares of EMCOR Group by 0.7% in the 4th quarter. State of Michigan Retirement System now owns 13,535 shares of the construction company’s stock valued at $1,724,000 after purchasing an additional 100 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of EMCOR Group in the 4th quarter valued at approximately $28,088,000. State of New Jersey Common Pension Fund D grew its position in shares of EMCOR Group by 5.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 26,486 shares of the construction company’s stock valued at $3,374,000 after purchasing an additional 1,399 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in shares of EMCOR Group by 27.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 16,042 shares of the construction company’s stock valued at $2,044,000 after purchasing an additional 3,407 shares during the period. 94.36% of the stock is owned by institutional investors.

Insider Buying and Selling at EMCOR Group

In related news, Director Carol P. Lowe sold 1,975 shares of EMCOR Group stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $102.55, for a total value of $202,536.25. Following the completion of the transaction, the director now directly owns 16,722 shares of the company’s stock, valued at $1,714,841.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Tuesday, October 18th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, October 17th. This is a boost from EMCOR Group’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.52%. EMCOR Group’s dividend payout ratio (DPR) is presently 7.30%.

About EMCOR Group

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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.

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Earnings History and Estimates for EMCOR Group (NYSE:EME)

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