EMCOR Group (NYSE:EME) Releases 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 guidance of 19.000-20.000 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

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

EMCOR Group Trading Up 5.0 %

NYSE:EME opened at $364.05 on Friday. The stock has a 50 day simple moving average of $376.71 and a 200 day simple moving average of $330.81. The stock has a market cap of $17.11 billion, a P/E ratio of 24.01 and a beta of 1.06. EMCOR Group has a 1-year low of $191.50 and a 1-year high of $401.98.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the firm earned $2.95 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts forecast that EMCOR Group will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

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

Insider Transactions at EMCOR Group

In related news, Director Carol P. Lowe sold 1,245 shares of the business’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 completion of the sale, the director now directly owns 16,807 shares in the company, valued at $6,289,683.61. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.26% of the company’s stock.

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.