The most recent trading session ended with Emcor Group (EME) standing at $395.09, reflecting a +1.69% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.64%. At the same time, the Dow added 0.85%, and the tech-heavy Nasdaq gained 0.31%.
Shares of the construction and maintenance company have depreciated by 8.86% over the course of the past month, underperforming the Construction sector's loss of 7.66% and the S&P 500's loss of 7.69%.
The investment community will be paying close attention to the earnings performance of Emcor Group in its upcoming release. The company is forecasted to report an EPS of $4.57, showcasing a 9.59% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $3.8 billion, up 10.6% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $23.37 per share and a revenue of $16.43 billion, representing changes of +8.6% and +12.77%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Emcor Group. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.08% increase. Emcor Group currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Emcor Group is currently trading at a Forward P/E ratio of 16.63. This represents a premium compared to its industry's average Forward P/E of 15.5.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 135, finds itself in the bottom 47% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
EMCOR Group, Inc. (EME) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.