EMCOR Group (NYSE:EME – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 19.000-20.000 for the period, compared to the consensus EPS estimate of 16.250. The company issued revenue guidance of $14.5 billion-$15.0 billion, compared to the consensus revenue estimate of $14.3 billion. EMCOR Group also updated its FY24 guidance to $19.00-20.00 EPS.
EMCOR Group Stock Performance
EMCOR Group stock traded up $17.43 during midday trading on Friday, hitting $364.03. 1,229,596 shares of the company were exchanged, compared to its average volume of 473,043. The firm has a market capitalization of $17.11 billion, a PE ratio of 23.99 and a beta of 1.06. EMCOR Group has a fifty-two week low of $191.50 and a fifty-two week high of $401.98. The business has a fifty day simple moving average of $377.00 and a two-hundred day simple moving average of $328.95.
EMCOR Group (NYSE:EME – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $1.75. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. EMCOR Group’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.95 earnings per share. As a group, equities analysts expect that EMCOR Group will post 16.3 earnings per share for the current year.
EMCOR Group Announces Dividend
Wall Street Analysts Forecast Growth
Separately, DA Davidson raised their target price on EMCOR Group from $410.00 to $430.00 and gave the company a buy rating in a research report on Friday.
View Our Latest Research Report on EME
Insider Activity at EMCOR Group
In related news, Director Carol P. Lowe sold 1,245 shares of the 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 completion of the sale, the director now owns 16,807 shares of the company’s stock, valued at $6,289,683.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.26% 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.
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