Research Analysts Set Expectations for Emera Incorporated’s FY2024 Earnings (TSE:EMA)

Emera Incorporated (TSE:EMA) – Analysts at National Bank Financial dropped their FY2024 earnings per share estimates for Emera in a research note issued to investors on Tuesday, July 2nd. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings per share of $2.81 for the year, down from their prior estimate of $2.88. The consensus estimate for Emera’s current full-year earnings is $3.01 per share. National Bank Financial also issued estimates for Emera’s FY2025 earnings at $3.14 EPS.

Several other analysts have also commented on the company. TD Securities dropped their target price on Emera from C$57.00 to C$54.00 and set a “buy” rating on the stock in a report on Tuesday, May 14th. CIBC dropped their price objective on Emera from C$53.00 to C$51.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Raymond James dropped their price objective on Emera from C$55.00 to C$54.00 in a report on Thursday, April 25th. Wells Fargo & Company raised their price objective on Emera from C$49.00 to C$53.00 and gave the company an “equal weight” rating in a report on Tuesday, May 14th. Finally, Scotiabank dropped their price objective on Emera from C$56.00 to C$52.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Emera presently has a consensus rating of “Hold” and an average target price of C$50.78.

Emera Stock Up 1.6 %

Shares of EMA stock opened at C$45.28 on Thursday. The stock’s 50-day simple moving average is C$47.17 and its 200-day simple moving average is C$47.94. The company has a debt-to-equity ratio of 160.58, a quick ratio of 0.23 and a current ratio of 0.73. The firm has a market capitalization of C$12.98 billion, a PE ratio of 20.30, a P/E/G ratio of 2.77 and a beta of 0.28. Emera has a fifty-two week low of C$43.67 and a fifty-two week high of C$55.74.

Emera (TSE:EMA) last announced its quarterly earnings data on Monday, May 13th. The company reported C$0.76 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.79 by C($0.03). The firm had revenue of C$2.02 billion during the quarter, compared to analyst estimates of C$2.04 billion. Emera had a net margin of 9.69% and a return on equity of 5.71%.

Emera Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th were given a dividend of $0.717 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $2.87 dividend on an annualized basis and a yield of 6.33%. Emera’s payout ratio is 128.70%.

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.