Raymond James Has Bullish Estimate for Emera FY2024 Earnings

Emera Incorporated (TSE:EMA - Free Report) - Raymond James raised their FY2024 earnings per share estimates for Emera in a research note issued on Sunday, November 10th. Raymond James analyst D. Quezada now expects that the company will post earnings per share of $2.94 for the year, up from their prior estimate of $2.89. Raymond James has a "Outperform" rating and a $57.00 price target on the stock. The consensus estimate for Emera's current full-year earnings is $3.20 per share. Raymond James also issued estimates for Emera's Q4 2024 earnings at $0.84 EPS, Q4 2025 earnings at $0.84 EPS and FY2025 earnings at $3.20 EPS.

A number of other equities research analysts have also recently weighed in on EMA. National Bankshares lifted their price target on Emera from C$49.00 to C$54.00 and gave the company a "sector perform" rating in a report on Friday, August 23rd. Scotiabank increased their price target on Emera from C$52.00 to C$55.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lifted their target price on Emera from C$45.00 to C$46.00 in a report on Thursday, July 25th. Bank of America set a C$55.00 target price on shares of Emera and gave the stock a "neutral" rating in a report on Friday, September 20th. Finally, CIBC cut their price target on shares of Emera from C$51.00 to C$50.00 and set a "neutral" rating on the stock in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$52.10.

Emera Stock Performance

Shares of EMA traded up C$0.14 during midday trading on Tuesday, hitting C$50.53. 203,531 shares of the stock traded hands, compared to its average volume of 1,256,596. The company has a debt-to-equity ratio of 155.62, a quick ratio of 0.23 and a current ratio of 0.79. Emera has a 1-year low of C$44.13 and a 1-year high of C$54.19. The business's 50 day moving average price is C$51.98 and its two-hundred day moving average price is C$49.23. The firm has a market capitalization of C$14.57 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35.

Emera (TSE:EMA - Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The company reported C$0.53 earnings per share for the quarter, missing analysts' consensus estimates of C$0.56 by C($0.03). Emera had a return on equity of 6.60% and a net margin of 10.83%. The company had revenue of C$1.62 billion for the quarter, compared to analyst estimates of C$1.67 billion.

Emera Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be paid a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend is Friday, November 1st. Emera's payout ratio is presently 112.84%.

Emera Company Profile

Emera Incorporated, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.