EMCOR Group (EME) Set to Announce Quarterly Earnings on Thursday

EMCOR Group (NYSE:EME) is scheduled to be announcing its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce 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.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

EMCOR Group (NYSE:EME) last released its earnings results on Wednesday, February 28th. The construction company reported $4.47 earnings per share for the quarter, topping 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 firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the prior year, the business posted $2.63 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. 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 Trading Down 1.8 %

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

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.29%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, April 15th. EMCOR Group’s dividend payout ratio (DPR) is 7.51%.

Insider Buying and Selling at EMCOR Group

In other 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 sale, the chief executive officer now owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On EMCOR Group

Hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its holdings in shares of EMCOR Group by 5.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,426 shares of the construction company’s stock valued at $273,000 after buying an additional 135 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of EMCOR Group by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,156 shares of the construction company’s stock worth $580,000 after buying an additional 189 shares during the last quarter. Bank of Montreal Can lifted its position in shares of EMCOR Group by 3.4% in the first quarter. Bank of Montreal Can now owns 8,037 shares of the construction company’s stock worth $928,000 after buying an additional 264 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of EMCOR Group by 160.4% in the first quarter. Acadian Asset Management LLC now owns 4,828 shares of the construction company’s stock worth $543,000 after buying an additional 2,974 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of EMCOR Group by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,561 shares of the construction company’s stock worth $2,203,000 after purchasing an additional 1,865 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.