Emcor CEO sells 13,247 common shares » 16:4609/1609/16/21
In a regulatory filing,…
In a regulatory filing, Emcor chairman, president, and CEO Anthony Guzzi disclosed the sale of 13,247 common shares of the company on September 15 at a price of $118.038 per share.
|Over a month ago|
Emcor completes acquisition of Quebe Holdings » 14:0308/0508/05/21
Emcor Group announced…
Emcor Group announced that it has completed its acquisition of Quebe Holdings, an electrical services company providing preconstruction, construction, systems integration, and energy solutions in a variety of markets, including automotive, commercial, healthcare, education, industrial, and mission critical. Daniel Fitzgibbons, President and CEO of EMCOR Electrical Construction Services, said, "Not only does the Quebe acquisition further strengthen EMCOR's position in electrical construction, it also expands our capabilities across the state of Ohio."
Emcor price target raised to $125 from $115 at DA Davidson » 08:3907/3007/30/21
DA Davidson analyst Brent…
DA Davidson analyst Brent Thielman raised the firm's price target on Emcor to $125 from $115 but keeps a Neutral rating on the shares. The company posted "strong" Q2 results highlighted by growth in revenue and remaining performance obligations metric, the analyst tells investors in a research note. Thielman notes that a potential inflection in Emcor's Industrial business could be an incremental driver for the stock over the next 6-12 months, but he also sees may of the company's positives reflected in valuation.
Emcor reports Q2 EPS $1.78, consensus $1.58 » 07:4907/2907/29/21
Reports Q2 revenue…
Reports Q2 revenue $2.44B, consensus $2.25B. Tony Guzzi, chairman, president, and CEO of Emcor, commented, "The Company once again delivered exceptional performance, with record second quarter revenues, gross profit, operating income, net income, and diluted earnings per share, building upon an already strong start to the year. We achieved outstanding revenue growth of 21.0% year-over-year, 18.4% of which was organic, and our continued operational execution enabled us to deliver a healthy operating income margin of 5.5%. Despite the uncertain environment we have seen over the last year, our remaining performance obligations increased 11.2% year-over-year to a record $5.11 billion, demonstrating resilient demand for our services across our geographies and end markets."
Fly Intel: Top five analyst upgrades » 09:5706/2406/24/21
LEA, MGM, EME, STX, CS
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Lear (LEA) upgraded to Buy from Neutral at Goldman Sachs with analyst Mark Delaney saying the company has a growing opportunity in its E-Systems business, including with products for electric vehicles such as connectors. 2. MGM Resorts (MGM) upgraded to Buy from Hold at Deutsche Bank with analyst Carlo Santarelli saying the "next leg of the stock story" is likely to be improving margins that extend well beyond the "over 30%" targets management has discussed as the Las Vegas Strip goal, as well as the 32.5% peak margins of 2006. 3. Emcor (EME) upgraded to Overweight from Sector Weight at KeyBanc with analyst Sean Eastman saying he is more confident the company is "on the cusp" of a sustained sales growth reacceleration rather than facing a Covid-driven air pocket. 4. Seagate (STX) upgraded to Outperform from Market Perform at Northland with analyst Gus Richard saying while "correlation isn't causation," he sees it as likely that much of the recent volatility in Seagate shares is a function of being a derivative Chia investment and thinks the volatility will likely diminish as investors understand the HDD supply and demand dynamics are favorable excluding the impact of Chia. 5. Credit Suisse (CS) upgraded to Buy from Hold at Berenberg with analyst Eoin Mullany saying the shares are more than discounting issues around Archegos and Greensill and as Credit Suisse resolves them and refocuses the business, its valuation gap to peers can close. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
KeyBanc upgrades Emcor, says 'on the cusp' of sustained sales growth » 05:5906/2406/24/21
KeyBanc analyst Sean…
KeyBanc analyst Sean Eastman upgraded Emcor to Overweight from Sector Weight with a $146 price target. Based on leading indicators and management's tone on bid activity, the analyst is more confident the company is "on the cusp" of a sustained sales growth reacceleration rather than facing a Covid-driven air pocket. He sees a high probability of "material" upward estimate revisions. Emcor is a "high-quality play" on a recovery in commercial construction activity, and the high visibility associated with secular growth themes and the capital allocation upside potential are underappreciated, Eastman tells investors in a research note.
Emcor upgraded to Overweight from Sector Weight at KeyBanc » 04:5006/2406/24/21
KeyBanc analyst Sean…
KeyBanc analyst Sean Eastman upgraded Emcor to Overweight from Sector Weight with a $146 price target.
|Over a quarter ago|
Emcor raises FY21 EPS view to $6.35-$6.75, consensus $6.49 » 07:4504/2904/29/21
Based on year-to-date…
Based on year-to-date performance and assuming a gradual improvement of current market conditions as the year progresses, EMCOR is raising its full-year 2021 diluted earnings per share guidance range to $6.35 to $6.75, an increase from the prior guidance range of $6.20 to $6.70. The Company is maintaining its full-year 2021 revenue guidance of $9.2 billion to $9.4 billion. Mr. Guzzi concluded, "We are optimistic about our prospects for the remainder of the year. Our values of Mission First, People Always will continue to guide us as we focus on the health and safety of our employees, while executing our work for our customers with excellence. Looking ahead, we will continue to invest in our business and pursue strategic acquisition opportunities, while also returning capital to shareholders through share repurchases and dividends."
Emcor reports Q1 EPS $1.54, consensus $1.22 » 07:4204/2904/29/21
Reports Q1 revenue $2.3B,…
Reports Q1 revenue $2.3B, consensus $2.2B. Tony Guzzi, Chairman, President and Chief Executive Officer of EMCOR, commented, "The Company had an outstanding start to the year, achieving record first quarter revenues, gross profit, gross profit margin, operating income, operating income margin, net income, and diluted earnings per share. Our focus on executing for our customers allowed us to deliver a robust operating income margin of 5.1%, up 50 basis points year-over-year. Additionally, we continue to see a healthy project pipeline as evidenced by our record remaining performance obligations of $4.78 billion, which increased 7.9% year-over-year." Mr. Guzzi added, "Our U.S. Construction segments continue to deliver outstanding results, posting combined revenue and operating income growth of 5.0% and 23.1% year-over-year, respectively, led by our U.S. Mechanical Construction segment in particular, which delivered revenue growth of 8.4% year-over-year and operating income growth of 43.8% year-over-year. U.S. Building Services performed exceptionally well, generating revenue and operating income growth of 10.3% and 38.0%, respectively, driven primarily by our commercial site-based and mobile mechanical services businesses. Our U.S. Industrial Services segment experienced a difficult quarter as the Texas Freeze impacted our turnaround schedule, but we remain well-positioned to assist our customers when the market strengthens. Lastly, our U.K. Building Services segment continued to take advantage of strong project demand, delivering revenue and operating income growth of 12.8% and 63.3%, respectively, which led to operating margin expansion of 230 basis points year-over-year."
Emcor completes acquisition of Dallas Mechanical Group » 11:1004/0504/05/21
EMCOR Group announced…
EMCOR Group announced that it has completed its acquisition of Dallas Mechanical Group, LLC, a full-service provider of mechanical construction and maintenance services, headquartered in Dallas, TX. DMG will be part of EMCOR's Building Services segment. "We are excited about the capabilities, synergies, and customer relationships that Dallas Mechanical Group brings to the organization," said Michael P. Bordes, president and CEO of EMCOR Building Services. "We look forward to offering clients an even greater array of innovative, value-added services in the Dallas and North Texas market."