EMCOR Group (NYSE:EME) Updates FY24 Earnings Guidance

EMCOR Group (NYSE:EME) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $20.50-21.00 for the period, compared to the consensus EPS estimate of $19.53. The company issued revenue guidance of at least $14.5 billion, compared to the consensus revenue estimate of $14.70 billion. EMCOR Group also updated its FY 2024 guidance to 20.500-21.000 EPS.

EMCOR Group Trading Up 1.6 %

NYSE:EME opened at $453.21 on Friday. The stock has a 50 day moving average of $418.65 and a two-hundred day moving average of $386.77. EMCOR Group has a 12 month low of $206.37 and a 12 month high of $461.87. 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 quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping the consensus estimate of $4.98 by $0.82. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the business earned $3.61 earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, research analysts forecast that EMCOR Group will post 19.5 earnings per share for the current year.

EMCOR Group Dividend Announcement

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

Analyst Ratings Changes

EME has been the subject of several research reports. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson upped their price target on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

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.