What is Scotiabank’s Forecast for Emera FY2024 Earnings?

Emera Incorporated (TSE:EMA) – Analysts at Scotiabank raised their FY2024 earnings estimates for Emera in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now expects that the company will post earnings per share of $2.86 for the year, up from their prior forecast 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 research firms have also recently issued reports on EMA. BMO Capital Markets increased their price target on Emera from C$54.00 to C$58.00 in a report on Thursday, December 5th. CIBC raised shares of Emera from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from C$54.00 to C$58.00 in a report on Monday, December 2nd. Cibc World Mkts upgraded shares of Emera from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Royal Bank of Canada upped their target price on shares of Emera from C$57.00 to C$60.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, National Bankshares upped their price objective on Emera from C$54.00 to C$55.00 in a report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$57.10.

Emera Price Performance

Shares of EMA opened at C$52.48 on Friday. The business has a 50-day simple moving average of C$52.96 and a two-hundred day simple moving average of C$50.94. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 155.62. Emera has a 12-month low of C$44.13 and a 12-month high of C$56.20. The stock has a market cap of C$15.14 billion, a PE ratio of 20.42, a PEG ratio of 6.20 and a beta of 0.35.

Emera Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were issued a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date was Friday, November 1st. 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.