FY2024 Earnings Forecast for Emera Issued By Raymond James

Emera Incorporated (TSE:EMA - Free Report) - Raymond James reduced their FY2024 earnings per share (EPS) estimates for shares of Emera in a note issued to investors on Thursday, January 30th. Raymond James analyst T. Genzebu now anticipates that the company will post earnings of $2.87 per share for the year, down from their previous forecast of $2.93. 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 $0.77 EPS, Q1 2025 earnings at $1.02 EPS, Q2 2025 earnings at $0.59 EPS and Q3 2025 earnings at $0.78 EPS.

Other research analysts have also recently issued research reports about the stock. Bank of America upgraded shares of Emera from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from C$55.00 to C$57.00 in a research report on Monday, November 25th. BMO Capital Markets upped their price target on Emera from C$54.00 to C$58.00 in a research note on Thursday, December 5th. Cibc World Mkts upgraded Emera from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Wells Fargo & Company upped their target price on shares of Emera from C$51.00 to C$56.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised shares of Emera from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$57.10.

Emera Stock Performance

Shares of TSE EMA traded down C$0.76 during trading on Friday, reaching C$55.37. The company had a trading volume of 346,251 shares, compared to its average volume of 1,568,856. Emera has a 52 week low of C$44.13 and a 52 week high of C$56.33. The business's 50 day moving average is C$53.94. The stock has a market cap of C$15.97 billion, a PE ratio of 21.54, a PEG ratio of 6.20 and a beta of 0.35. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 155.62.

Emera (TSE:EMA - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The company reported C$0.81 EPS for the quarter, topping analysts' consensus estimates of C$0.77 by C$0.04. Emera had a return on equity of 6.60% and a net margin of 10.83%.

Emera Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 14th will be issued a $0.725 dividend. The ex-dividend date is Friday, January 31st. This represents a $2.90 annualized dividend and a dividend yield of 5.24%. Emera's dividend payout ratio (DPR) is currently 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.