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.

Analyst Ratings Changes

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

EMCOR Group Stock Up 0.2 %

Shares of NYSE EME opened at $338.87 on Thursday. EMCOR Group has a twelve month low of $155.46 and a twelve month high of $369.53. The firm has a market cap of $15.95 billion, a P/E ratio of 25.46 and a beta of 1.10. The company has a 50 day moving average of $324.81 and a 200 day moving average of $253.91.

EMCOR Group (NYSE:EME) last announced its 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 business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.63 EPS. As a group, equities analysts expect that EMCOR Group will post 14.5 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date is Monday, April 15th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. EMCOR Group’s payout ratio is currently 7.51%.

Insider Transactions at EMCOR Group

In other 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 sale, the chief executive officer now directly owns 219,023 shares in the company, valued at approximately $70,010,701.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

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.