Stock Buyback Program Announced by EMCOR Group (NYSE:EME) Board

EMCOR Group (NYSE:EME) declared that its board has approved a share repurchase plan on Wednesday, February 26th, RTT News reports. The company plans to buyback $500.00 million in shares. This buyback authorization permits the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EME shares. Stifel Nicolaus started coverage on EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 target price for the company. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. The Goldman Sachs Group started coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price for the company. Finally, Northcoast Research started coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, EMCOR Group presently has a consensus rating of “Moderate Buy” and an average price target of $518.75.

EMCOR Group Stock Up 5.8 %

Shares of EME opened at $420.92 on Thursday. The company has a market cap of $19.36 billion, a PE ratio of 21.38 and a beta of 1.11. The business has a fifty day moving average of $461.63 and a 200 day moving average of $448.68. EMCOR Group has a 52-week low of $272.29 and a 52-week high of $545.29.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. As a group, research analysts anticipate that EMCOR Group will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were paid a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. EMCOR Group’s payout ratio is 5.08%.

About EMCOR Group

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.