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

EMCOR Group (NYSE:EME) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 15.500-16.500 for the period, compared to the consensus 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. EMCOR Group also updated its FY24 guidance to $15.50-16.50 EPS.

Analysts Set New Price Targets

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

EMCOR Group Stock Performance

NYSE EME traded up $10.17 on Thursday, reaching $349.06. The company’s stock had a trading volume of 826,166 shares, compared to its average volume of 425,175. EMCOR Group has a twelve month low of $155.46 and a twelve month high of $369.53. The firm’s 50 day moving average is $326.74 and its two-hundred day moving average is $254.57. The stock has a market cap of $16.43 billion, a PE ratio of 26.23 and a beta of 1.10.

EMCOR Group (NYSE:EME) last released its earnings results on Wednesday, February 28th. The construction company reported $4.47 EPS for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.63 earnings per share. Equities research analysts anticipate that EMCOR Group will post 14.5 EPS for the current fiscal year.

EMCOR Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a $0.25 dividend. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, April 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.29%. EMCOR Group’s dividend payout ratio (DPR) is 7.51%.

Insider Buying and Selling

In other news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total value of $1,917,900.00. Following the transaction, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.