EMCOR Group (NYSE:EME – Get Free Report) posted its earnings results on Thursday. The construction company reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49, Briefing.com reports. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period last year, the firm earned $2.95 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. EMCOR Group updated its FY24 guidance to $19.00-20.00 EPS and its FY 2024 guidance to 19.000-20.000 EPS.
EMCOR Group Price Performance
Shares of EMCOR Group stock opened at $364.05 on Friday. The stock has a market cap of $17.11 billion, a P/E ratio of 24.01 and a beta of 1.06. The stock’s 50 day simple moving average is $376.71 and its 200-day simple moving average is $330.81. EMCOR Group has a 1-year low of $191.50 and a 1-year high of $401.98.
EMCOR Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Monday, July 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Monday, July 15th. EMCOR Group’s payout ratio is 6.60%.
Insider Transactions at EMCOR Group
Analyst Upgrades and Downgrades
Separately, 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 report on Friday.
View Our Latest Stock Report on EMCOR Group
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.
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