Raymond James Weighs in on Emera’s FY2024 Earnings (TSE:EMA)

Emera Incorporated (TSE:EMA) – Raymond James reduced their FY2024 EPS estimates for Emera in a research note issued on Thursday, January 30th. Raymond James analyst T. Genzebu now forecasts 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 released its earnings results on Friday, November 8th. The company reported C$0.81 earnings per share for the quarter, beating 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 analysts also recently weighed in on the stock. Cibc World Mkts upgraded Emera from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. CIBC upgraded Emera from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from C$54.00 to C$58.00 in a report on Monday, December 2nd. National Bankshares raised their target price on shares of Emera from C$54.00 to C$55.00 in a research report on Thursday, December 5th. Wells Fargo & Company boosted their target price on Emera from C$51.00 to C$56.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. upgraded Emera from an “underperform” rating to a “neutral” rating and increased their price target for the company from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Emera has a consensus rating of “Moderate Buy” and a consensus target price of C$57.10.

Emera Stock Up 1.2 %

Shares of TSE:EMA opened at C$55.17 on Friday. The company has a debt-to-equity ratio of 155.62, a current ratio of 0.79 and a quick ratio of 0.23. The business has a 50 day simple moving average of C$53.79 and a two-hundred day simple moving average of C$51.74. Emera has a 1 year low of C$44.13 and a 1 year high of C$56.20. The firm has a market capitalization of C$15.91 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend is Friday, January 31st. Emera’s payout ratio is presently 112.84%.

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.