EMCOR Group (NYSE:EME) Updates FY24 Earnings Guidance

EMCOR Group (NYSE:EME) updated its FY24 earnings guidance on Thursday. 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.

Analyst Ratings Changes

A number of research analysts have issued reports on EME shares. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. DA Davidson boosted their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

EMCOR Group Stock Up 1.6 %

Shares of NYSE:EME traded up $7.14 during trading on Friday, hitting $453.21. The stock had a trading volume of 523,314 shares, compared to its average volume of 430,489. EMCOR Group has a 12 month low of $206.37 and a 12 month high of $461.87. The company has a market capitalization of $21.15 billion, a PE ratio of 25.96 and a beta of 1.07. The firm’s fifty day moving average is $418.65 and its 200 day moving average is $386.77.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the company earned $3.61 earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts expect that EMCOR Group will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were paid a dividend of $0.25 per share. 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 payout ratio is currently 5.73%.

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.