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Here's Why Emcor Group (EME) Fell More Than Broader Market
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In the latest market close, Emcor Group (EME - Free Report) reached $374.25, with a -1.03% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 0.09%.
The construction and maintenance company's stock has dropped by 0.34% in the past month, falling short of the Construction sector's loss of 0.27% and the S&P 500's gain of 4.59%.
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 $3.50 per share. This would mark year-over-year growth of 18.64%.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Emcor Group. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 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).
In terms of valuation, Emcor Group is currently trading at a Forward P/E ratio of 23.49. This represents a premium compared to its industry's average Forward P/E of 19.37.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 1, finds itself in the top 1% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Here's Why Emcor Group (EME) Fell More Than Broader Market
In the latest market close, Emcor Group (EME - Free Report) reached $374.25, with a -1.03% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 0.09%.
The construction and maintenance company's stock has dropped by 0.34% in the past month, falling short of the Construction sector's loss of 0.27% and the S&P 500's gain of 4.59%.
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 $3.50 per share. This would mark year-over-year growth of 18.64%.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Emcor Group. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 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).
In terms of valuation, Emcor Group is currently trading at a Forward P/E ratio of 23.49. This represents a premium compared to its industry's average Forward P/E of 19.37.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 1, finds itself in the top 1% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.