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

EMCOR Group (NYSE:EME - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 20.500-21.000 for the period, compared to the consensus earnings per share estimate of 19.530. The company issued revenue guidance of $14.5 billion-, compared to the consensus revenue estimate of $14.7 billion. EMCOR Group also updated its FY24 guidance to $20.50-21.00 EPS.

EMCOR Group Stock Up 3.3 %

EMCOR Group stock traded up $14.19 on Thursday, hitting $445.96. The company's stock had a trading volume of 548,165 shares, compared to its average volume of 430,049. The company has a fifty day moving average price of $415.78 and a 200-day moving average price of $385.33. EMCOR Group has a one year low of $204.11 and a one year high of $456.76. The firm has a market cap of $20.81 billion, a P/E ratio of 25.50 and a beta of 1.07.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.82. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the company earned $3.61 EPS. The firm's quarterly revenue was up 15.3% on a year-over-year basis. Analysts anticipate that EMCOR Group will post 19.5 EPS for the current year.

EMCOR Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EME shares. StockNews.com upgraded shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 9th. DA Davidson increased their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the company a "buy" rating in a research report 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.