EMCOR Group (NYSE:EME) Issues FY24 Earnings Guidance

EMCOR Group (NYSE:EME) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $15.50-16.50 for the period, compared to the consensus EPS estimate of $14.13. The company issued revenue guidance of $14.0-14.5 billion, compared to the consensus revenue estimate of $13.71 billion. EMCOR Group also updated its FY 2024 guidance to 15.500-16.500 EPS.

Wall Street Analyst Weigh In

EME has been the topic of several research analyst reports. DA Davidson reaffirmed a buy rating and issued a $375.00 price objective on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp assumed coverage on EMCOR Group in a research note on Wednesday, January 10th. They issued a sector weight rating on the stock.

EMCOR Group Stock Up 1.3 %

NYSE EME opened at $354.02 on Friday. The company has a market cap of $16.64 billion, a price-to-earnings ratio of 23.35 and a beta of 1.10. EMCOR Group has a 52 week low of $161.49 and a 52 week high of $369.53. The business has a 50 day moving average price of $328.76 and a 200-day moving average price of $255.92.

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

EMCOR Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. 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. EMCOR Group’s dividend payout ratio is currently 6.60%.

Insider Activity

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 transaction of $1,917,900.00. Following the transaction, the chief executive officer now owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

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.