Research Analysts Set Expectations for Emera Incorporated’s FY2024 Earnings (TSE:EMA)

Emera Incorporated (TSE:EMA) – Equities researchers at National Bank Financial lowered their FY2024 earnings per share (EPS) estimates for shares of Emera in a research note issued on Tuesday, July 2nd. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings per share of $2.81 for the year, down from their previous forecast of $2.88. The consensus estimate for Emera’s current full-year earnings is $3.01 per share. National Bank Financial also issued estimates for Emera’s FY2025 earnings at $3.14 EPS.

Several other equities analysts also recently weighed in on EMA. BMO Capital Markets raised their price objective on Emera from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. TD Securities dropped their price objective on Emera from C$57.00 to C$54.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. National Bankshares dropped their price objective on Emera from C$50.00 to C$48.00 in a research note on Tuesday. Wells Fargo & Company raised their price target on Emera from C$49.00 to C$53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Finally, CIBC dropped their price target on Emera from C$53.00 to C$51.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$50.78.

Emera Stock Performance

TSE EMA opened at C$45.28 on Thursday. Emera has a 1-year low of C$43.67 and a 1-year high of C$55.74. The company has a market capitalization of C$12.98 billion, a P/E ratio of 20.30, a PEG ratio of 2.77 and a beta of 0.28. The business has a 50 day moving average price of C$47.17 and a 200 day moving average price of C$47.94. The company has a debt-to-equity ratio of 160.58, a current ratio of 0.73 and a quick ratio of 0.23.

Emera (TSE:EMA) last posted its quarterly earnings results on Monday, May 13th. The company reported C$0.76 EPS for the quarter, missing the consensus estimate of C$0.79 by C($0.03). Emera had a net margin of 9.69% and a return on equity of 5.71%. The business had revenue of C$2.02 billion during the quarter, compared to analyst estimates of C$2.04 billion.

Emera Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.717 per share. This represents a $2.87 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date was Tuesday, April 30th. Emera’s dividend payout ratio is presently 128.70%.

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.