EMCOR Group (NYSE:EME) Issues FY24 Earnings Guidance

EMCOR Group (NYSE:EME) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $20.50-21.00 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EME. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson raised their target price on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

EMCOR Group Stock Performance

Shares of NYSE:EME traded up $7.14 during midday trading on Friday, reaching $453.21. The company had a trading volume of 523,314 shares, compared to its average volume of 430,489. EMCOR Group has a 1-year low of $206.37 and a 1-year high of $461.87. The firm has a market cap of $21.15 billion, a price-to-earnings ratio of 25.96 and a beta of 1.07. The company has a fifty day simple moving average of $418.65 and a two-hundred day simple moving average of $386.77.

EMCOR Group (NYSE:EME) last released its quarterly earnings results 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. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the company posted $3.61 EPS. EMCOR Group’s revenue for the quarter was up 15.3% on a year-over-year basis. Analysts expect that EMCOR Group will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were given a $0.25 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.22%. EMCOR Group’s dividend payout ratio (DPR) is 5.73%.

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.