EMCOR Group (NYSE:EME) Issues 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.

EMCOR Group Stock Performance

EME traded up $7.14 during trading on Friday, reaching $453.21. The stock had a trading volume of 523,314 shares, compared to its average volume of 430,489. The business has a 50-day moving average of $418.65 and a 200-day moving average of $386.77. EMCOR Group has a one year low of $206.37 and a one year high of $461.87. The stock has a market cap of $21.15 billion, a PE ratio of 25.96 and a beta of 1.07.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. EMCOR Group’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $3.61 EPS. Equities research analysts forecast that EMCOR Group will post 19.5 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EME. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. DA Davidson lifted their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

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.