Raymond James Has Strong Estimate for Emera FY2024 Earnings

Emera Incorporated (TSE:EMA) – Equities research analysts at Raymond James increased their FY2024 earnings per share (EPS) estimates for shares of Emera in a research note issued on Sunday, November 10th. Raymond James analyst D. Quezada now anticipates that the company will post earnings per share of $2.94 for the year, up from their previous estimate of $2.89. Raymond James currently has a “Outperform” rating and a $57.00 price objective on the stock. 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 $0.84 EPS, Q4 2025 earnings at $0.84 EPS and FY2025 earnings at $3.20 EPS.

Other analysts also recently issued research reports about the stock. Scotiabank lifted their target price on shares of Emera from C$52.00 to C$55.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price objective on Emera from C$45.00 to C$46.00 in a report on Thursday, July 25th. CIBC cut their target price on Emera from C$51.00 to C$50.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada raised their price target on Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Bank of America set a C$55.00 price objective on Emera and gave the stock a “neutral” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Emera has an average rating of “Hold” and an average price target of C$52.10.

Emera Stock Performance

TSE:EMA opened at C$49.68 on Tuesday. The company has a debt-to-equity ratio of 155.62, a current ratio of 0.79 and a quick ratio of 0.23. The firm has a market cap of C$14.33 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The firm’s fifty day moving average price is C$51.96 and its 200 day moving average price is C$49.26. Emera has a 1-year low of C$44.13 and a 1-year high of C$54.19.

Emera Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be paid a $0.725 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.90 dividend on an annualized basis and a yield of 5.84%. Emera’s payout ratio is 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.