Comfort Systems USA, Inc. (NYSE:FIX) Forecasted to Post Q2 2024 Earnings of $3.04 Per Share

Comfort Systems USA, Inc. (NYSE:FIX) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Comfort Systems USA in a research report issued to clients and investors on Monday, April 29th. DA Davidson analyst B. Thielman forecasts that the construction company will earn $3.04 per share for the quarter. DA Davidson has a “Buy” rating and a $350.00 price objective on the stock. The consensus estimate for Comfort Systems USA’s current full-year earnings is $11.90 per share. DA Davidson also issued estimates for Comfort Systems USA’s FY2024 earnings at $11.90 EPS and FY2025 earnings at $13.50 EPS.

Comfort Systems USA (NYSE:FIX) last released its earnings results on Thursday, April 25th. The construction company reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.43. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Comfort Systems USA had a return on equity of 28.65% and a net margin of 6.51%. The company’s revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 EPS.

A number of other equities analysts also recently commented on FIX. StockNews.com upgraded shares of Comfort Systems USA from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. KeyCorp assumed coverage on shares of Comfort Systems USA in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, UBS Group increased their price objective on shares of Comfort Systems USA from $208.00 to $254.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th.

Comfort Systems USA Trading Down 2.4 %

Comfort Systems USA stock opened at $301.98 on Tuesday. The firm has a 50-day moving average of $306.94 and a 200-day moving average of $237.88. Comfort Systems USA has a one year low of $144.45 and a one year high of $335.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.96 and a quick ratio of 0.92. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 29.90 and a beta of 1.19.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FIX. Baillie Gifford & Co. bought a new position in shares of Comfort Systems USA during the third quarter worth approximately $202,433,000. Westfield Capital Management Co. LP bought a new position in shares of Comfort Systems USA during the fourth quarter worth approximately $87,733,000. Norges Bank bought a new position in shares of Comfort Systems USA during the fourth quarter worth approximately $81,299,000. FMR LLC increased its holdings in shares of Comfort Systems USA by 61.0% during the third quarter. FMR LLC now owns 570,778 shares of the construction company’s stock worth $97,266,000 after purchasing an additional 216,200 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in shares of Comfort Systems USA during the fourth quarter worth approximately $30,151,000. 96.51% of the stock is owned by institutional investors.

Insider Activity at Comfort Systems USA

In related news, COO T Mckenna Trent sold 14,185 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $278.55, for a total value of $3,951,231.75. Following the completion of the sale, the chief operating officer now directly owns 22,644 shares in the company, valued at approximately $6,307,486.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Comfort Systems USA news, Director Pablo G. Mercado sold 1,200 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $283.17, for a total value of $339,804.00. Following the transaction, the director now directly owns 11,038 shares of the company’s stock, valued at approximately $3,125,630.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO T Mckenna Trent sold 14,185 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $278.55, for a total transaction of $3,951,231.75. Following the completion of the transaction, the chief operating officer now directly owns 22,644 shares in the company, valued at $6,307,486.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,614 shares of company stock worth $13,739,345. Insiders own 1.80% of the company’s stock.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be paid a $0.30 dividend. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, May 10th. Comfort Systems USA’s dividend payout ratio (DPR) is 9.90%.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.