EMCOR Group (NYSE:EME) Issues Quarterly Earnings Results, Beats Estimates By $0.82 EPS

EMCOR Group (NYSE:EME) posted its quarterly earnings data on Thursday. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82, Briefing.com reports. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.61 earnings per share. 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 Price Performance

NYSE:EME traded up $11.27 on Thursday, reaching $443.04. 227,399 shares of the company’s stock were exchanged, compared to its average volume of 428,528. The stock has a fifty day simple moving average of $415.78 and a 200-day simple moving average of $385.33. EMCOR Group has a 52 week low of $204.11 and a 52 week high of $456.76. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 28.48 and a beta of 1.07.

EMCOR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EME shares. DA Davidson increased their target price 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. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

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.