Scotiabank Has Optimistic Outlook of Emera FY2024 Earnings

Emera Incorporated (TSE:EMA - Free Report) - Investment analysts at Scotiabank lifted their FY2024 earnings per share estimates for shares of Emera in a note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the company will post earnings of $2.86 per share for the year, up from their prior estimate of $2.83. The consensus estimate for Emera's current full-year earnings is $3.20 per share. Scotiabank also issued estimates for Emera's FY2025 earnings at $3.23 EPS and FY2026 earnings at $3.38 EPS.

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

Emera Stock Performance

Shares of Emera stock traded down C$0.48 on Friday, reaching C$52.48. 3,128,761 shares of the stock were exchanged, compared to its average volume of 1,556,032. The business has a 50 day moving average price of C$52.95 and a two-hundred day moving average price of C$50.85. The firm has a market capitalization of C$15.14 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 6.20 and a beta of 0.35. Emera has a twelve month low of C$44.13 and a twelve month high of C$56.20. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 155.62.

Emera Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a $0.725 dividend. The ex-dividend date was Friday, November 1st. This represents a $2.90 dividend on an annualized basis and a yield of 5.53%. Emera's dividend payout ratio 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.