Scotiabank Has Optimistic Outlook of Emera FY2024 Earnings

Emera Incorporated (TSE:EMA) – Investment analysts at Scotiabank raised their FY2024 earnings per share estimates for Emera in a report issued 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.

A number of other equities analysts also recently weighed in on the stock. National Bankshares boosted their target price on shares of Emera from C$54.00 to C$55.00 in a report on Thursday, December 5th. Bank of America raised shares of Emera from a “neutral” rating to a “buy” rating and upped their target price for the company from C$55.00 to C$57.00 in a report on Monday, November 25th. BMO Capital Markets lifted their price target on Emera from C$54.00 to C$58.00 in a report on Thursday, December 5th. Royal Bank of Canada upped their price objective on Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Cibc World Mkts upgraded Emera from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Three 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 stock. According to MarketBeat, Emera presently has a consensus rating of “Moderate Buy” and an average target price of C$57.10.

Emera Stock Down 0.9 %

TSE:EMA opened at C$52.48 on Friday. Emera has a twelve month low of C$44.13 and a twelve month high of C$56.20. The firm has a market capitalization of C$15.14 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 155.62. The stock’s 50 day moving average price is C$52.95 and its two-hundred day moving average price is C$50.85.

Emera Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were given a $0.725 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $2.90 annualized dividend and a yield of 5.53%. Emera’s dividend payout ratio is presently 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.