Comfort Systems USA (NYSE:FIX) Releases Quarterly Earnings Results, Beats Expectations By $1.06 EPS

Comfort Systems USA (NYSE:FIX) issued its quarterly earnings results on Thursday. The construction company reported $13.91 earnings per share for the quarter, topping the consensus estimate of $12.85 by $1.06, FiscalAI reports. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.40 billion.

Comfort Systems USA Stock Down 9.1%

Shares of FIX traded down $127.98 during midday trading on Thursday, reaching $1,273.29. 856,208 shares of the stock were exchanged, compared to its average volume of 434,869. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $1,626.01 and its two-hundred day moving average is $1,732.35. The company has a market capitalization of $44.81 billion, a P/E ratio of 31.32 and a beta of 1.66. Comfort Systems USA has a 52 week low of $791.36 and a 52 week high of $2,073.99.

Insiders Place Their Bets

In related news, insider Brian E. Lane sold 16,024 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total value of $25,769,957.04. Following the completion of the transaction, the insider owned 145,065 shares of the company’s stock, valued at $233,294,983.65. The trade was a 9.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Franklin Myers sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the sale, the director owned 8,495 shares of the company’s stock, valued at approximately $14,389,850.40. This represents a 32.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,078 shares of company stock worth $43,211,828 in the last three months. Corporate insiders own 1.24% of the company’s stock.

Wall Street Analyst Weigh In

FIX has been the topic of several research analyst reports. KeyCorp upped their price objective on Comfort Systems USA from $2,110.00 to $2,125.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Zacks Research downgraded Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings upgraded shares of Comfort Systems USA from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Erste Group Bank cut shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group set a $1,875.00 target price on shares of Comfort Systems USA in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Comfort Systems USA currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,044.43.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc (NYSE:FIX) is a provider of mechanical and electrical contracting services for commercial, industrial, and institutional customers. The company designs, installs, maintains, repairs, and replaces heating, ventilation, air conditioning, and temperature-control systems, as well as plumbing, piping, electrical, and related building systems.

Its services support new construction, building renovations, facility upgrades, and ongoing maintenance. Comfort Systems USA also provides specialized services for data centers, manufacturing facilities, healthcare buildings, educational institutions, and other complex commercial and industrial projects.

Founded in 1997 and headquartered in Houston, Texas, the company operates through a network of regional contracting businesses serving customers across the United States.