EMCOR Group (NYSE:EME) Posts Earnings Results, Beats Expectations By $0.82 EPS

by · The Markets Daily

EMCOR Group (NYSE:EME – Get Free Report) issued its quarterly earnings data on Thursday. The construction company reported $5.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82, Briefing.com reports. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business 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 Stock Up 2.5 %

Shares of NYSE EME traded up $11.08 during midday trading on Friday, hitting $457.15. The stock had a trading volume of 93,168 shares, compared to its average volume of 428,460. EMCOR Group has a 1 year low of $206.37 and a 1 year high of $461.87. The stock has a 50 day simple moving average of $417.23 and a 200-day simple moving average of $385.75. The company has a market capitalization of $21.33 billion, a PE ratio of 25.54 and a beta of 1.07.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors 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 0.22%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is 5.73%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson upped their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

Get Our Latest Stock Analysis on EMCOR Group

About EMCOR Group

(Get Free Report)

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.

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