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

EMCOR Group (NYSE:EME) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 20.500-21.000 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EME. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. DA Davidson increased their price objective on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th.

EMCOR Group Stock Up 2.6 %

Shares of EME traded up $11.27 during mid-day trading on Thursday, hitting $443.04. 227,399 shares of the company traded hands, compared to its average volume of 428,528. The business has a 50 day moving average of $415.78 and a 200 day moving average of $385.33. The company has a market capitalization of $20.82 billion, a PE ratio of 28.48 and a beta of 1.07. EMCOR Group has a 1-year low of $204.11 and a 1-year high of $456.76.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the company earned $3.61 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. As a group, research analysts expect that EMCOR Group will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio is presently 6.60%.

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.