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

EMCOR Group (NYSE:EME) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 20.500-21.000 for the period, compared to the consensus earnings per share estimate of 19.530. The company issued revenue guidance of $14.5 billion-, compared to the consensus revenue estimate of $14.7 billion. EMCOR Group also updated its FY24 guidance to $20.50-21.00 EPS.

EMCOR Group Stock Performance

Shares of NYSE EME traded up $7.14 during midday trading on Friday, hitting $453.21. The company’s stock had a trading volume of 523,314 shares, compared to its average volume of 288,512. EMCOR Group has a 1-year low of $206.37 and a 1-year high of $461.87. The firm’s fifty day moving average price is $418.65 and its 200-day moving average price is $386.77. The firm has a market cap of $21.15 billion, a P/E ratio of 23.02 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. EMCOR Group’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.61 earnings per share. As a group, research analysts predict that EMCOR Group will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio is presently 5.08%.

Analyst Ratings Changes

Several equities analysts have recently commented on EME shares. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. DA Davidson upped their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

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.