EMCOR Group (NYSE:EME) Updates FY24 Earnings Guidance

EMCOR Group (NYSE:EME) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $15.50-16.50 for the period, compared to the consensus earnings per share estimate of $14.13. The company issued revenue guidance of $14.0-14.5 billion, compared to the consensus revenue estimate of $13.71 billion. EMCOR Group also updated its FY 2024 guidance to 15.500-16.500 EPS.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. KeyCorp started coverage on EMCOR Group in a research note on Wednesday, January 10th. They issued a sector weight rating on the stock. DA Davidson reissued a buy rating and set a $375.00 price target on shares of EMCOR Group in a research note on Friday, March 22nd.

EMCOR Group Stock Performance

Shares of EME traded up $4.67 during mid-day trading on Friday, reaching $354.02. 609,345 shares of the company were exchanged, compared to its average volume of 424,596. EMCOR Group has a 52 week low of $161.49 and a 52 week high of $369.53. The stock has a market capitalization of $16.64 billion, a PE ratio of 23.35 and a beta of 1.10. The business has a 50 day simple moving average of $328.76 and a two-hundred day simple moving average of $255.59.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, April 25th. The construction company reported $4.17 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $1.25. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. The firm had revenue of $3.43 billion during the quarter. On average, analysts predict that EMCOR Group will post 16 EPS for the current year.

EMCOR Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $1.00 annualized dividend and a yield of 0.28%. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s payout ratio is currently 6.60%.

Insiders Place Their Bets

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total value of $1,917,900.00. Following the transaction, the chief executive officer now owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

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.