Raymond James Comments on Emera’s FY2024 Earnings (TSE:EMA)

Emera Incorporated (TSE:EMA) – Raymond James dropped their FY2024 earnings per share (EPS) estimates for Emera in a research report issued to clients and investors on Thursday, January 30th. Raymond James analyst T. Genzebu now expects that the company will post earnings per share of $2.87 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.

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

A number of other research analysts have also issued reports on EMA. Scotiabank increased their target price on Emera from C$55.00 to C$60.00 in a research report on Thursday, December 5th. BMO Capital Markets increased their price objective on shares of Emera from C$54.00 to C$58.00 in a report on Thursday, December 5th. JPMorgan Chase & Co. raised shares of Emera from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from C$51.00 to C$56.00 in a research note on Thursday, December 12th. National Bankshares raised their price target on shares of Emera from C$54.00 to C$55.00 in a research note on Thursday, December 5th. Finally, Cibc World Mkts upgraded Emera from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$57.10.

Emera Stock Performance

Shares of EMA stock opened at C$55.22 on Friday. 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 has a 12-month low of C$44.13 and a 12-month high of C$56.20. The business’s 50 day moving average is C$53.85 and its two-hundred day moving average is C$51.81. The company has a market capitalization of C$15.93 billion, a P/E ratio of 21.49, a P/E/G ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend is Friday, January 31st. Emera’s dividend payout ratio (DPR) is currently 112.84%.

About Emera

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.