On July 28, Comfort Systems USA fell 3.49% in regular trading, trading at $1,599.005/share, with turnover of $132 million. The decline reflects continued profit-taking pressure following the company's strong Q2 earnings report.
The company reported Q2 EPS of $12.53, up 91.88% year-over-year and beating the consensus estimate of $10.21 by 22.72%. Revenue came in at $3.266 billion, up 50.7% year-over-year and exceeding the $2.995 billion estimate by approximately 9%. The company also raised its quarterly dividend by $0.10 to $0.90 per share. Despite the earnings beat, the stock dropped 8.5% in after-hours trading on July 23 as investors locked in gains. A brief rebound of 3.59% on July 27, driven by KeyBanc raising its price target to $2,110 from $2,004, proved unsustainable as selling pressure resumed.
Sector-wide weakness in Construction and Engineering compounded the decline, with Sterling Construction down 11.0%, Argan down 7.94%, MasTec down 7.48%, Quanta down 5.57%, and EMCOR Group down 3.58%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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