EMCOR Group (NYSE:EME) Updates FY 2024 Earnings Guidance

EMCOR Group (NYSE:EME) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 15.500-16.500 for the period, compared to the consensus earnings per share estimate of 14.490. The company issued revenue guidance of $14.0 billion-$14.5 billion, compared to the consensus revenue estimate of $13.7 billion. EMCOR Group also updated its FY24 guidance to $15.50-16.50 EPS.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. KeyCorp assumed coverage on shares of EMCOR Group in a report on Wednesday, January 10th. They issued a sector weight rating for the company. DA Davidson reiterated a buy rating and issued a $375.00 target price on shares of EMCOR Group in a report on Friday, March 22nd.

EMCOR Group Stock Performance

Shares of EME stock traded up $4.67 during trading on Friday, hitting $354.02. 609,345 shares of the company were exchanged, compared to its average volume of 424,596. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of 23.35 and a beta of 1.10. The business’s 50-day simple moving average is $328.76 and its 200 day simple moving average is $255.59. EMCOR Group has a twelve month low of $161.49 and a twelve month high of $369.53.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 EPS for the quarter, topping the consensus estimate of $2.92 by $1.25. The business had revenue of $3.43 billion during the quarter. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. On average, equities analysts forecast that EMCOR Group will post 16 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, April 15th. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. EMCOR Group’s payout ratio is 6.60%.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total value of $1,917,900.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

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.