Why Emcor Group (EME) Dipped More Than Broader Market Today

Emcor Group (EME) closed the most recent trading day at $549.76, moving -1.28% from the previous trading session. This change lagged the S&P 500's daily loss of 0.4%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq increased by 0.18%. The construction and maintenance company's stock has climbed by 14.63% in the past month, exceeding the Construction sector's gain of 6.65% and the S&P 500's gain of 4.97%.The investment community will be paying close attention to the earnings performance of Emcor Group in its upcoming release. In that report, analysts expect Emcor Group to post earnings of $5.68 per share. This would mark year-over-year growth of 8.19%. Alongside, our most recent consensus estimate is anticipating revenue of $4.1 billion, indicating a 11.85% upward movement from the same quarter last year. EME's full-year Zacks Consensus Estimates are calling for earnings of $23.59 per share and revenue of $16.42 billion. These results would represent year-over-year changes of +9.62% and +12.74%, respectively. 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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. 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 past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Emcor Group holds a Zacks Rank of #3 (Hold). Valuation is also important, so investors should note that Emcor Group has a Forward P/E ratio of 23.61 right now. This signifies no noticeable deviation in comparison to the average Forward P/E of 23.61 for its industry. The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 14, putting it in the top 6% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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. Should You Invest in EMCOR Group, Inc. (EME)?Before you invest in EMCOR Group, Inc. (EME), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks