EMCOR Group (NYSE:EME) Releases FY24 Earnings Guidance

EMCOR Group (NYSE:EME) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $15.50-16.50 for the period, compared to the consensus estimate of $14.13. The company issued revenue guidance of $14.0-14.5 billion, compared to the consensus revenue estimate of $13.71 billion. EMCOR Group also updated its FY 2024 guidance to 15.500-16.500 EPS.

EMCOR Group Stock Up 3.0 %

Shares of EMCOR Group stock traded up $10.17 during trading on Thursday, reaching $349.06. The company’s stock had a trading volume of 826,166 shares, compared to its average volume of 425,175. EMCOR Group has a 12-month low of $155.46 and a 12-month high of $369.53. The company has a market capitalization of $16.43 billion, a P/E ratio of 26.23 and a beta of 1.10. The business has a 50 day moving average price of $326.74 and a 200-day moving average price of $254.57.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Wednesday, February 28th. The construction company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.96. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.63 earnings per share. Research analysts predict that EMCOR Group will post 14.5 EPS for the current fiscal year.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.29%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, April 15th. EMCOR Group’s payout ratio is presently 7.51%.

Analysts Set New Price Targets

A number of research firms have commented on EME. DA Davidson reiterated a buy rating and set a $375.00 target price on shares of EMCOR Group in a research report on Friday, March 22nd. KeyCorp started coverage on EMCOR Group in a research report on Wednesday, January 10th. They issued a sector weight rating on the stock.

Insider Activity

In related news, CEO Anthony Guzzi sold 6,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total value of $1,917,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,023 shares in the company, valued at $70,010,701.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

EMCOR Group Company Profile

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.