Emerson Electric (NYSE:EMR) Updates FY 2024 Earnings Guidance

Emerson Electric (NYSE:EMR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 5.400-5.500 for the period, compared to the consensus earnings per share estimate of 5.390. The company issued revenue guidance of $17.4 billion-$17.6 billion, compared to the consensus revenue estimate of $17.6 billion. Emerson Electric also updated its FY24 guidance to $5.40-$5.50 EPS.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EMR shares. Barclays lifted their target price on Emerson Electric from $95.00 to $105.00 and gave the stock an equal weight rating in a report on Tuesday, April 2nd. Bank of America increased their target price on shares of Emerson Electric from $120.00 to $130.00 and gave the stock a buy rating in a research report on Monday, March 4th. UBS Group boosted their price target on Emerson Electric from $95.00 to $120.00 and gave the company a neutral rating in a research note on Thursday, March 21st. Royal Bank of Canada lifted their price objective on Emerson Electric from $106.00 to $120.00 and gave the company an outperform rating in a report on Thursday, February 8th. Finally, Berenberg Bank increased their target price on Emerson Electric from $100.00 to $130.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $118.07.

Emerson Electric Price Performance

Shares of NYSE:EMR traded up $3.97 during trading on Wednesday, hitting $111.37. 2,634,422 shares of the company were exchanged, compared to its average volume of 2,780,580. The company has a market capitalization of $63.57 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 1.84 and a beta of 1.36. Emerson Electric has a 1-year low of $76.94 and a 1-year high of $115.26. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $110.61 and its 200-day moving average is $99.95.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.18. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities analysts forecast that Emerson Electric will post 5.4 earnings per share for the current year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.89%. Emerson Electric’s payout ratio is currently 10.94%.

Insider Buying and Selling

In related news, Director Mark A. Blinn sold 2,413 shares of Emerson Electric stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $103.18, for a total value of $248,973.34. Following the transaction, the director now directly owns 9,591 shares of the company’s stock, valued at $989,599.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

About Emerson Electric

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.