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

EMCOR Group (NYSE:EME) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 15.500-16.500 for the period, compared to the consensus EPS estimate of 14.490. The company issued revenue guidance of $14.0 billion-$14.5 billion, compared to the consensus revenue estimate of $13.7 billion. EMCOR Group also updated its FY24 guidance to $15.50-16.50 EPS.

EMCOR Group Trading Up 1.3 %

Shares of EME stock opened at $354.02 on Friday. The company has a market capitalization of $16.64 billion, a price-to-earnings ratio of 23.35 and a beta of 1.10. The firm has a 50-day moving average price of $328.76 and a 200 day moving average price of $255.92. EMCOR Group has a twelve month low of $161.49 and a twelve month high of $369.53.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $1.25. The company had revenue of $3.43 billion for the quarter. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. As a group, research analysts predict that EMCOR Group will post 16 earnings per share for the current year.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Monday, April 15th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s dividend payout ratio is 6.60%.

Wall Street Analysts Forecast Growth

EME has been the topic of a number of research reports. KeyCorp started coverage on shares of EMCOR Group in a research note on Wednesday, January 10th. They issued a sector weight rating on the stock. DA Davidson reiterated a buy rating and issued a $375.00 target price on shares of EMCOR Group in a research note on Friday, March 22nd.

Insider Activity at EMCOR Group

In other news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the sale, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% 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.