FY2024 Earnings Forecast for Emera Issued By Raymond James

Emera Incorporated (TSE:EMA) – Stock analysts at Raymond James cut their FY2024 earnings per share (EPS) estimates for Emera in a report released on Thursday, January 30th. Raymond James analyst T. Genzebu now expects that the company will post earnings of $2.87 per share for the year, down from their prior forecast 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 (EPS) for the quarter, beating analysts’ consensus estimates of C$0.77 by C$0.04. Emera had a net margin of 10.83% and a return on equity of 6.60%.

A number of other equities analysts also recently weighed in on EMA. Wells Fargo & Company lifted their price target on shares of Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. JPMorgan Chase & Co. upgraded shares of Emera from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Royal Bank of Canada raised their price target on shares of Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Scotiabank boosted their price objective on shares of Emera from C$55.00 to C$60.00 in a report on Thursday, December 5th. Finally, BMO Capital Markets raised their target price on Emera from C$54.00 to C$58.00 in a research note on Thursday, December 5th. Three investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$57.10.

Emera Trading Up 1.2 %

Shares of EMA stock opened at C$55.17 on Friday. Emera has a 1-year low of C$44.13 and a 1-year high of C$56.20. The firm’s 50-day simple moving average is C$53.79 and its 200-day simple moving average is C$51.74. The firm has a market cap of C$15.91 billion, a P/E ratio of 21.47, a PEG ratio of 6.20 and a beta of 0.35. The company has a debt-to-equity ratio of 155.62, a current ratio of 0.79 and a quick ratio of 0.23.

Emera Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 14th will be paid a dividend of $0.725 per share. The ex-dividend date is Friday, January 31st. This represents a $2.90 dividend on an annualized basis and a yield of 5.26%. Emera’s payout ratio is currently 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.