EMCOR Group (NYSE:EME – Get Free Report) 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.
Analyst Ratings Changes
Several analysts recently issued reports on the company. KeyCorp assumed coverage on EMCOR Group in a report on Wednesday, January 10th. They set a sector weight rating for the company. DA Davidson reiterated a buy rating and set a $375.00 price objective on shares of EMCOR Group in a report on Friday, March 22nd.
Check Out Our Latest Stock Report on EMCOR Group
EMCOR Group Trading Up 3.0 %
EMCOR Group (NYSE:EME – Get Free Report) last posted its earnings results on Wednesday, February 28th. The construction company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.96. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the company earned $2.63 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts predict that EMCOR Group will post 14.5 EPS for the current fiscal year.
EMCOR Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be paid a $0.25 dividend. The ex-dividend date is Monday, April 15th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.29%. EMCOR Group’s payout ratio is presently 7.51%.
Insider Transactions at EMCOR Group
In other news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction dated 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 directly owns 219,023 shares in the company, valued at $70,010,701.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.
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.
Featured Articles
- Five stocks we like better than EMCOR Group
- Technology Stocks Explained: Here’s What to Know About Tech
- Hasbro’s Management Made All the Right Calls This Quarter
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Caterpillar’s Market Reset Isn’t Over: Get Ready for Lower Prices
- Are Penny Stocks a Good Fit for Your Portfolio?
- Power Surge: Utilities Sector’s Resilience Shines
Receive News & Ratings for EMCOR Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EMCOR Group and related companies with MarketBeat.com's FREE daily email newsletter.