EMCOR Group (EME) Scheduled to Post Quarterly Earnings on Thursday

EMCOR Group (NYSE:EME) is scheduled to release its earnings data before the market opens on Thursday, April 25th. Analysts expect EMCOR Group to post earnings of $2.92 per share for the quarter. EMCOR Group has set its FY24 guidance at $14.00-15.00 EPS and its FY 2024 guidance at 14.000-15.000 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

EMCOR Group (NYSE:EME) last posted its earnings results on Wednesday, February 28th. The construction company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.96. The company had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.36 billion. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. EMCOR Group’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.63 earnings per share. On average, analysts expect EMCOR Group to post $15 EPS for the current fiscal year and $16 EPS for the next fiscal year.

EMCOR Group Stock Performance

Shares of EME opened at $339.15 on Thursday. The stock has a market capitalization of $15.96 billion, a PE ratio of 25.94 and a beta of 1.10. EMCOR Group has a 1 year low of $155.14 and a 1 year high of $369.53. The company’s 50-day simple moving average is $313.75 and its 200-day simple moving average is $248.75.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.29%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, April 15th. EMCOR Group’s dividend payout ratio is presently 7.51%.

Insider Transactions at EMCOR Group

In related news, CEO Anthony Guzzi sold 6,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total value of $1,917,900.00. Following the completion of the transaction, the chief executive officer now owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in EMCOR Group by 0.8% in the 1st quarter. BlackRock Inc. now owns 6,152,648 shares of the construction company’s stock worth $1,000,359,000 after acquiring an additional 47,507 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in EMCOR Group by 2.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,565,326 shares of the construction company’s stock worth $579,687,000 after buying an additional 82,360 shares during the period. State Street Corp grew its stake in shares of EMCOR Group by 3.6% in the first quarter. State Street Corp now owns 1,744,930 shares of the construction company’s stock worth $196,531,000 after purchasing an additional 61,165 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of EMCOR Group by 1.0% in the first quarter. Geode Capital Management LLC now owns 961,989 shares of the construction company’s stock worth $156,410,000 after purchasing an additional 9,577 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in EMCOR Group by 96.7% during the first quarter. JPMorgan Chase & Co. now owns 651,082 shares of the construction company’s stock valued at $105,859,000 after buying an additional 320,153 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on EME shares. DA Davidson restated a “buy” rating and set a $375.00 target price on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp initiated coverage on shares of EMCOR Group in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the 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.