Raymond James Has Pessimistic View of Emera FY2024 Earnings

Emera Incorporated (TSE:EMA) – Equities researchers at Raymond James lowered their FY2024 earnings per share estimates for shares of Emera in a research report issued on Thursday, January 30th. Raymond James analyst T. Genzebu now anticipates that the company will post earnings per share of $2.87 for the year, down from their prior estimate 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 earnings results on Friday, November 8th. The company reported C$0.81 EPS for the quarter, topping the consensus estimate of C$0.77 by C$0.04. Emera had a return on equity of 6.60% and a net margin of 10.83%.

Several other research firms have also issued reports on EMA. Wells Fargo & Company increased their price target on shares of Emera from C$51.00 to C$56.00 in a research report on Monday, December 9th. National Bankshares upped their price objective on Emera from C$54.00 to C$55.00 in a research note on Thursday, December 5th. CIBC upgraded Emera from a “neutral” rating to an “outperform” rating and raised their target price for the stock from C$54.00 to C$58.00 in a research report on Monday, December 2nd. BMO Capital Markets upped their price target on Emera from C$54.00 to C$58.00 in a research report on Thursday, December 5th. Finally, Scotiabank increased their price objective on Emera from C$55.00 to C$60.00 in a research note on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Emera has a consensus rating of “Moderate Buy” and a consensus target price of C$57.10.

Emera Trading Up 0.1 %

Shares of EMA stock opened at C$55.22 on Friday. The company has a debt-to-equity ratio of 155.62, a quick ratio of 0.23 and a current ratio of 0.79. The firm has a fifty day moving average of C$53.85 and a 200-day moving average of C$51.85. Emera has a 52-week low of C$44.13 and a 52-week high of C$56.20. The stock has a market cap of C$15.93 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

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