Yahoo Finance Why Emcor Group (EME) Outpaced the Stock Market Today
In the latest market close, Emcor Group (EME) reached $371.26, with a +1.97% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.45%. Elsewhere, the Dow saw a downswing of 0.23%, while the tech-heavy Nasdaq appreciated by 0.84%.
Prior to today's trading, shares of the construction and maintenance company had gained 2.33% over the past month. This has outpaced the Construction sector's gain of 1.61% and lagged the S&P 500's gain of 2.54% in that time.
Market participants will be closely following the financial results of Emcor Group in its upcoming release. In that report, analysts expect Emcor Group to post earnings of $4.99 per share. This would mark year-over-year growth of 38.23%. Meanwhile, the latest consensus estimate predicts the revenue to be $3.68 billion, indicating a 14.86% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Emcor Group. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Emcor Group holds a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Emcor Group is holding a Forward P/E ratio of 18.67. This valuation marks a premium compared to its industry's average Forward P/E of 17.95.
The Building Products - Heavy Construction industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 14, positioning 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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EMCOR Group, Inc. (EME) : Free Stock Analysis Report
