Scotiabank Has Strong Forecast for Emera FY2024 Earnings

Emera Incorporated (TSE:EMA) – Research analysts at Scotiabank lifted their FY2024 earnings per share estimates for Emera in a report released on Wednesday, January 8th. Scotiabank analyst A. Weisel now expects that the company will post earnings of $2.86 per share for the year, up from their previous forecast 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 research analysts also recently commented on EMA. Wells Fargo & Company boosted their target price on Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. CIBC upgraded Emera from a “neutral” rating to an “outperform” rating and raised their target price for the company from C$54.00 to C$58.00 in a research note on Monday, December 2nd. JPMorgan Chase & Co. upgraded shares of Emera from an “underperform” rating to a “neutral” rating and upped their price target for the stock from C$51.00 to C$56.00 in a research report on Thursday, December 12th. National Bankshares raised their price objective on shares of Emera from C$54.00 to C$55.00 in a research report on Thursday, December 5th. Finally, BMO Capital Markets upped their target price on shares of Emera from C$54.00 to C$58.00 in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Emera currently has an average rating of “Moderate Buy” and a consensus price target of C$57.10.

Emera Stock Performance

Emera stock opened at C$52.48 on Friday. The firm has a market capitalization of C$15.14 billion, a P/E ratio of 20.42, a P/E/G ratio of 6.20 and a beta of 0.35. The stock has a fifty day moving average price of C$52.95 and a two-hundred day moving average price of C$50.85. Emera has a 52-week low of C$44.13 and a 52-week high of C$56.20. The company has a debt-to-equity ratio of 155.62, a current ratio of 0.79 and a quick ratio of 0.23.

Emera Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were given a dividend of $0.725 per share. The ex-dividend date was Friday, November 1st. This represents a $2.90 annualized dividend and a dividend 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.