Yahoo Finance Emcor Group (EME) Dips More Than Broader Market: What You Should Know
In the latest trading session, Emcor Group (EME) closed at $336.06, marking a -0.93% move from the previous day. This change lagged the S&P 500's 0.22% loss on the day. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Heading into today, shares of the construction and maintenance company had gained 1.52% over the past month, outpacing the Construction sector's loss of 3.79% and the S&P 500's loss of 1.66% in that time.
Market participants will be closely following the financial results of Emcor Group in its upcoming release. The company plans to announce its earnings on April 25, 2024. The company's earnings per share (EPS) are projected to be $2.92, reflecting a 25.86% increase from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Emcor Group. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Emcor Group currently has a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Emcor Group is at present trading with a Forward P/E ratio of 23.39. This signifies a premium in comparison to the average Forward P/E of 14.6 for its industry.
The Building Products - Heavy Construction industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 57, positioning it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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EMCOR Group, Inc. (EME) : Free Stock Analysis Report
