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

EMCOR Group (NYSE:EME - Get Free Report) announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th, RTT News reports. The company plans to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

EMCOR Group Trading Up 1.4 %

EME stock traded up $5.62 during midday trading on Friday, hitting $408.33. 676,820 shares of the company's stock were exchanged, compared to its average volume of 516,408. EMCOR Group has a 12-month low of $305.89 and a 12-month high of $545.29. The firm has a 50 day moving average price of $458.38 and a 200-day moving average price of $449.14. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 20.74 and a beta of 1.11.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. On average, sell-side analysts forecast that EMCOR Group will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EME. Northcoast Research began coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a "buy" rating and a $600.00 price target on the stock. StockNews.com downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Stifel Nicolaus dropped their target price on EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group started coverage on EMCOR Group in a report on Friday, November 22nd. They set a "sell" rating and a $445.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $497.25.

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.