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Why Emcor Group (EME) Outpaced the Stock Market Today
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Emcor Group (EME - Free Report) closed the most recent trading day at $776.24, moving +1.56% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.47%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.9%.
Shares of the construction and maintenance company witnessed a gain of 18.27% over the previous month, beating the performance of the Construction sector with its gain of 10.62%, and the S&P 500's loss of 0.16%.
The upcoming earnings release of Emcor Group will be of great interest to investors. The company's earnings per share (EPS) are projected to be $6.68, reflecting a 5.7% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.28 billion, up 13.58% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $25.25 per share and revenue of $16.76 billion, which would represent changes of +17.33% and +15.03%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Emcor Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Right now, Emcor Group possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Emcor Group is currently trading at a Forward P/E ratio of 27.88. For comparison, its industry has an average Forward P/E of 27.3, which means Emcor Group is trading at a premium to the group.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 155, finds itself in the bottom 37% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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Why Emcor Group (EME) Outpaced the Stock Market Today
Emcor Group (EME - Free Report) closed the most recent trading day at $776.24, moving +1.56% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.47%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.9%.
Shares of the construction and maintenance company witnessed a gain of 18.27% over the previous month, beating the performance of the Construction sector with its gain of 10.62%, and the S&P 500's loss of 0.16%.
The upcoming earnings release of Emcor Group will be of great interest to investors. The company's earnings per share (EPS) are projected to be $6.68, reflecting a 5.7% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.28 billion, up 13.58% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $25.25 per share and revenue of $16.76 billion, which would represent changes of +17.33% and +15.03%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Emcor Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Right now, Emcor Group possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Emcor Group is currently trading at a Forward P/E ratio of 27.88. For comparison, its industry has an average Forward P/E of 27.3, which means Emcor Group is trading at a premium to the group.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 155, finds itself in the bottom 37% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.