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 earnings per share guidance of 15.500-16.500 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. KeyCorp initiated coverage on EMCOR Group in a research report on Wednesday, January 10th. They set a sector weight rating for the company. DA Davidson restated a buy rating and issued a $375.00 price target on shares of EMCOR Group in a research note on Friday, March 22nd.

EMCOR Group Stock Up 1.3 %

Shares of NYSE EME traded up $4.67 during trading on Friday, reaching $354.02. 609,338 shares of the company traded hands, compared to its average volume of 427,447. The firm has a 50 day simple moving average of $326.74 and a 200-day simple moving average of $254.57. EMCOR Group has a 52-week low of $161.49 and a 52-week high of $369.53. The stock has a market capitalization of $16.66 billion, a PE ratio of 26.46 and a beta of 1.10.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $1.25. The business had revenue of $3.43 billion during the quarter. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. As a group, research analysts predict that EMCOR Group will post 14.5 EPS for the current year.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be issued a dividend of $0.25 per share. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Monday, April 15th. EMCOR Group’s dividend payout ratio is currently 7.51%.

Insider Transactions at EMCOR Group

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

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.