EMCOR Group (NYSE:EME) Releases FY 2024 Earnings Guidance

EMCOR Group (NYSE:EME) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 15.500-16.500 for the period, compared to the consensus estimate of 14.490. The company issued revenue guidance of $14.0 billion-$14.5 billion, compared to the consensus revenue estimate of $13.7 billion.

EMCOR Group Price Performance

NYSE:EME opened at $338.87 on Thursday. The firm has a market capitalization of $15.95 billion, a price-to-earnings ratio of 25.46 and a beta of 1.10. The company’s 50-day moving average is $324.81 and its two-hundred day moving average is $253.91. EMCOR Group has a 1-year low of $155.46 and a 1-year high of $369.53.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, February 28th. The construction company reported $4.47 earnings per share for the quarter, topping 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 firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the prior year, the firm earned $2.63 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities analysts anticipate that EMCOR Group will post 14.5 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be paid a dividend of $0.25 per share. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date is Monday, April 15th. EMCOR Group’s dividend payout ratio is presently 7.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. DA Davidson reissued a buy rating and issued a $375.00 price objective on shares of EMCOR Group in a research report on Friday, March 22nd. KeyCorp started coverage on shares of EMCOR Group in a research report on Wednesday, January 10th. They issued a sector weight rating on the stock.

Insider Activity

In other 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 approximately $70,010,701.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.60% of the company’s stock.

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.