EMCOR Group (NYSE:EME) Updates FY24 Earnings Guidance

EMCOR Group (NYSE:EME) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $15.50-16.50 for the period, compared to the consensus earnings per share estimate of $14.13. The company issued revenue guidance of $14.0-14.5 billion, compared to the consensus revenue estimate of $13.71 billion. EMCOR Group also updated its FY 2024 guidance to 15.500-16.500 EPS.

EMCOR Group Stock Performance

NYSE EME opened at $338.87 on Thursday. The company has a market capitalization of $15.95 billion, a P/E ratio of 25.46 and a beta of 1.10. The stock has a 50 day moving average price of $324.81 and a 200-day moving average price of $253.91. EMCOR Group has a one year low of $155.46 and a one year high of $369.53.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Wednesday, February 28th. The construction company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.96. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%. EMCOR Group’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the company earned $2.63 earnings per share. As a group, equities analysts predict that EMCOR Group will post 14.5 EPS for the current fiscal year.

EMCOR Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, April 15th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. EMCOR Group’s dividend payout ratio (DPR) is currently 7.51%.

Analyst Upgrades and Downgrades

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

Insider Transactions at EMCOR Group

In other news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 219,023 shares in the company, valued at $70,010,701.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.