Emera (TSE:EMA) Given New C$60.00 Price Target at Royal Bank of Canada

Emera (TSE:EMA) had its target price lifted by analysts at Royal Bank of Canada from C$57.00 to C$60.00 in a research note issued on Thursday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 14.13% from the stock’s previous close.

A number of other brokerages also recently issued reports on EMA. JPMorgan Chase & Co. increased their price target on Emera from C$45.00 to C$46.00 in a research report on Thursday, July 25th. CIBC dropped their price target on shares of Emera from C$51.00 to C$50.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Bank of America set a C$55.00 price objective on shares of Emera and gave the stock a “neutral” rating in a research report on Friday, September 20th. National Bankshares increased their price objective on shares of Emera from C$49.00 to C$54.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. Finally, Raymond James boosted their target price on shares of Emera from C$54.00 to C$57.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$52.10.

Emera Stock Performance

Emera stock traded down C$0.72 during mid-day trading on Thursday, hitting C$52.57. The company had a trading volume of 179,198 shares, compared to its average volume of 1,204,855. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 155.62. The company’s fifty day moving average is C$50.91 and its 200-day moving average is C$48.43. Emera has a 12-month low of C$43.67 and a 12-month high of C$53.83. The company has a market capitalization of C$15.16 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 2.77 and a beta of 0.34.

Emera (TSE:EMA) last posted its earnings results on Friday, August 9th. The company reported C$0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.56 by C($0.03). Emera had a return on equity of 6.60% and a net margin of 10.83%. The firm had revenue of C$1.62 billion for the quarter, compared to analysts’ expectations of C$1.67 billion. Equities research analysts predict that Emera will post 3.1690821 EPS for the current year.

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.