EMCOR Group (NYSE:EME) Issues Earnings Results

EMCOR Group (NYSE:EME - Get Free Report) announced its quarterly earnings results on Thursday. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.82, Briefing.com reports. 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 6.01% and a return on equity of 32.73%. The business's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.61 EPS. 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 Trading Up 3.3 %

NYSE EME traded up $14.19 on Thursday, hitting $445.96. 548,165 shares of the company were exchanged, compared to its average volume of 430,049. The firm has a 50 day moving average of $415.78 and a two-hundred day moving average of $385.33. The company has a market cap of $20.81 billion, a P/E ratio of 25.50 and a beta of 1.07. EMCOR Group has a 1-year low of $204.11 and a 1-year high of $456.76.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. EMCOR Group's dividend payout ratio is presently 5.73%.

Wall Street Analyst Weigh In

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 report on Wednesday, October 9th. DA Davidson boosted their target price on shares of 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 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.