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 (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.

Wall Street Analyst Weigh In

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

EMCOR Group Price Performance

Shares of EME traded up $4.67 during trading hours on Friday, hitting $354.02. The stock had a trading volume of 609,345 shares, compared to its average volume of 424,596. EMCOR Group has a 12 month low of $161.49 and a 12 month high of $369.53. The firm has a market capitalization of $16.64 billion, a PE ratio of 23.35 and a beta of 1.10. The stock has a fifty day moving average price of $328.76 and a 200 day moving average price of $255.59.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, beating 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. As a group, analysts anticipate that EMCOR Group will post 16 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. Shareholders of record on Tuesday, April 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.28%. The ex-dividend date is Monday, April 15th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s payout ratio is currently 6.60%.

Insider Buying and Selling at EMCOR Group

In related news, CEO Anthony Guzzi sold 6,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 219,023 shares in the company, valued at $70,010,701.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by corporate 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.