EMCOR Group (NYSE:EME) Issues FY24 Earnings Guidance

EMCOR Group (NYSE:EME) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $19.00-20.00 for the period, compared to the consensus earnings per share estimate of $16.25. The company issued revenue guidance of $14.5-15.0 billion, compared to the consensus revenue estimate of $14.32 billion. EMCOR Group also updated its FY 2024 guidance to 19.000-20.000 EPS.

Analysts Set New Price Targets

Separately, DA Davidson lifted their target price on EMCOR Group from $410.00 to $430.00 and gave the company a buy rating in a research note on Friday.

EMCOR Group Stock Performance

Shares of EMCOR Group stock traded up $17.45 on Friday, reaching $364.05. The stock had a trading volume of 1,229,596 shares, compared to its average volume of 473,043. EMCOR Group has a fifty-two week low of $191.50 and a fifty-two week high of $401.98. The business’s 50-day moving average price is $377.00 and its two-hundred day moving average price is $328.95. The stock has a market cap of $17.11 billion, a P/E ratio of 23.99 and a beta of 1.06.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $3.50 by $1.75. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the prior year, the company earned $2.95 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities analysts forecast that EMCOR Group will post 16.3 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. EMCOR Group’s dividend payout ratio is currently 6.60%.

Insider Transactions at EMCOR Group

In other news, Director Carol P. Lowe sold 1,245 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $374.23, for a total value of $465,916.35. Following the sale, the director now directly owns 16,807 shares in the company, valued at approximately $6,289,683.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.26% of the stock is owned by 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.