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

EMCOR Group (NYSE:EME) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 20.500-21.000 for the period, compared to the consensus EPS estimate of 19.530. The company issued revenue guidance of $14.5 billion-, compared to the consensus revenue estimate of $14.7 billion. EMCOR Group also updated its FY24 guidance to $20.50-21.00 EPS.

EMCOR Group Stock Up 1.6 %

EMCOR Group stock traded up $7.14 during trading hours on Friday, hitting $453.21. The stock had a trading volume of 523,314 shares, compared to its average volume of 288,512. The business’s 50 day simple moving average is $418.65 and its 200-day simple moving average is $386.77. EMCOR Group has a one year low of $206.37 and a one year high of $461.87. The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 23.02 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping the consensus estimate of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the company earned $3.61 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. Research analysts anticipate that EMCOR Group will post 19.5 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.22%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s payout ratio is presently 5.08%.

Analyst Ratings Changes

EME has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.

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.