EMCOR Group (NYSE:EME) Issues FY24 Earnings Guidance

EMCOR Group (NYSE:EME - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $15.50-16.50 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. KeyCorp assumed coverage on shares of EMCOR Group in a research note on Wednesday, January 10th. They set 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 note on Friday, March 22nd.

EMCOR Group Trading Up 3.0 %

Shares of EME stock traded up $10.17 on Thursday, reaching $349.06. 826,166 shares of the stock were exchanged, compared to its average volume of 425,175. The business's 50 day moving average price is $324.81 and its 200 day moving average price is $253.91. The company has a market capitalization of $16.43 billion, a price-to-earnings ratio of 25.46 and a beta of 1.10. EMCOR Group has a twelve month low of $155.46 and a twelve month high of $369.53.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The construction company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.96. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the prior year, the firm posted $2.63 earnings per share. EMCOR Group's revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts forecast that EMCOR Group will post 14.5 earnings per share for the current year.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.29%. 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. EMCOR Group's dividend payout ratio is currently 7.51%.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of the company's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total value of $1,917,900.00. Following the completion of the transaction, the chief executive officer now owns 219,023 shares in the company, valued at $70,010,701.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by insiders.

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.