EMCOR Group (NYSE:EME) Releases 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 Trading Up 1.6 %

NYSE:EME opened at $453.21 on Friday. EMCOR Group has a twelve month low of $206.37 and a twelve month high of $461.87. The company has a market cap of $21.15 billion, a PE ratio of 23.02 and a beta of 1.07. The company’s 50 day moving average is $418.65 and its two-hundred day moving average is $386.77.

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 firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.61 earnings per share. As a group, analysts expect that EMCOR Group will post 19.5 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

Wall Street Analyst Weigh In

EME has been the topic of a number of research analyst reports. DA Davidson boosted their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

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.