EMCOR Group (NYSE:EME) Posts Quarterly Earnings Results

EMCOR Group (NYSE:EME) released its earnings results on Thursday. The construction company reported $5.80 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.82, Briefing.com reports. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $3.61 earnings per share. EMCOR Group updated its FY24 guidance to $20.50-21.00 EPS and its FY 2024 guidance to 20.500-21.000 EPS.

EMCOR Group Stock Performance

EMCOR Group stock opened at $453.16 on Friday. EMCOR Group has a twelve month low of $206.37 and a twelve month high of $461.87. The firm has a market cap of $21.14 billion, a PE ratio of 25.95 and a beta of 1.07. The firm’s 50 day moving average price is $418.65 and its two-hundred day moving average price is $386.48.

EMCOR Group Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.