EMCOR Group (NYSE:EME) Releases FY24 Earnings Guidance

EMCOR Group (NYSE:EME) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $20.50-21.00 for the period, compared to the consensus estimate of $19.53. The company issued revenue guidance of at least $14.5 billion, compared to the consensus revenue estimate of $14.70 billion. EMCOR Group also updated its FY 2024 guidance to 20.500-21.000 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. DA Davidson increased their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.

EMCOR Group Stock Up 1.6 %

Shares of EME traded up $7.14 during midday trading on Friday, reaching $453.21. 523,314 shares of the stock were exchanged, compared to its average volume of 430,489. EMCOR Group has a 12-month low of $206.37 and a 12-month high of $461.87. The firm has a 50 day simple moving average of $418.65 and a 200-day simple moving average of $386.77. The company has a market cap of $21.15 billion, a price-to-earnings ratio of 25.96 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, topping 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 company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the business earned $3.61 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. Research analysts expect that EMCOR Group will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s payout ratio is 5.73%.

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.