EMCOR Group (NYSE:EME – Get Free Report) issued its earnings results on Thursday. The construction company reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49, Briefing.com reports. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. EMCOR Group updated its FY24 guidance to $19.00-20.00 EPS and its FY 2024 guidance to 19.000-20.000 EPS.
EMCOR Group Stock Up 5.0 %
EME traded up $17.45 during midday trading on Friday, hitting $364.05. 1,229,635 shares of the company were exchanged, compared to its average volume of 453,148. The firm’s 50 day moving average price is $376.71 and its 200-day moving average price is $330.81. EMCOR Group has a 1-year low of $191.50 and a 1-year high of $401.98. The firm has a market capitalization of $17.11 billion, a P/E ratio of 24.01 and a beta of 1.06.
EMCOR Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Monday, July 15th will be issued a $0.25 dividend. 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 payout ratio is 6.60%.
Insider Activity
Wall Street Analyst Weigh In
Separately, DA Davidson raised their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday.
Check Out Our Latest Stock Analysis on EME
About EMCOR Group
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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