Emera (TSE:EMA) Price Target Cut to C$54.00

Emera (TSE:EMA) had its target price cut by Raymond James from C$55.00 to C$54.00 in a research report report published on Thursday morning, BayStreet.CA reports. Raymond James also issued estimates for Emera’s FY2024 earnings at $2.89 EPS, Q1 2025 earnings at $1.01 EPS and Q4 2025 earnings at $0.84 EPS.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Emera from C$50.00 to C$48.00 and set an underweight rating on the stock in a research note on Monday, January 22nd. Scotiabank lowered their target price on shares of Emera from C$56.00 to C$52.00 and set an outperform rating on the stock in a research note on Monday. CIBC lowered their target price on shares of Emera from C$53.00 to C$51.00 and set a neutral rating on the stock in a research note on Friday, April 19th. National Bankshares lowered their target price on shares of Emera from C$50.00 to C$49.00 in a research note on Tuesday, February 27th. Finally, TD Securities lowered their target price on shares of Emera from C$62.00 to C$57.00 and set a buy rating on the stock in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of C$54.50.

Emera Stock Performance

Shares of EMA stock opened at C$46.17 on Thursday. The stock has a market capitalization of C$13.20 billion, a P/E ratio of 12.93, a PEG ratio of 2.77 and a beta of 0.28. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 164.26. The firm’s 50 day moving average is C$47.58 and its 200 day moving average is C$48.14. Emera has a 12 month low of C$43.67 and a 12 month high of C$59.52.

Emera (TSE:EMA) last announced its quarterly earnings results on Monday, February 26th. The company reported C$0.63 EPS for the quarter, missing analysts’ consensus estimates of C$0.71 by C($0.08). The business had revenue of C$1.97 billion for the quarter, compared to analysts’ expectations of C$1.97 billion. Emera had a net margin of 13.80% and a return on equity of 8.88%. On average, sell-side analysts anticipate that Emera will post 3.2788927 earnings per share for the current year.

Emera Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.717 dividend. This represents a $2.87 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Tuesday, April 30th. Emera’s dividend payout ratio (DPR) is presently 80.39%.

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.