Emera Incorporated (EMA.TO) (TSE:EMA) Hits New 52-Week Low Following Analyst Downgrade

Shares of Emera Incorporated (EMA.TO) (TSE:EMA) hit a new 52-week low during mid-day trading on Wednesday after CIBC lowered their price target on the stock from C$58.00 to C$57.00. The company traded as low as C$0.05 and last traded at C$0.05, with a volume of 1106986 shares. The stock had previously closed at C$51.76.

A number of other analysts have also weighed in on EMA. UBS Group increased their target price on Emera Incorporated (EMA.TO) from C$65.00 to C$68.00 in a research note on Monday, November 16th. Raymond James set a C$63.00 price target on shares of Emera Incorporated (EMA.TO) and gave the stock an “outperform” rating in a research note on Monday, November 16th. Royal Bank of Canada lifted their price objective on shares of Emera Incorporated (EMA.TO) from C$63.00 to C$64.00 and gave the company an “outperform” rating in a report on Monday, November 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Emera Incorporated (EMA.TO) from C$58.00 to C$56.00 in a research note on Wednesday, January 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of C$61.45.

The stock has a 50-day simple moving average of C$53.80 and a 200 day simple moving average of C$54.43. The company has a market cap of C$13.06 billion and a price-to-earnings ratio of 15.01. The company has a current ratio of 0.54, a quick ratio of 0.28 and a debt-to-equity ratio of 168.01.

Emera Incorporated (EMA.TO) (TSE:EMA) last announced its quarterly earnings data on Friday, November 13th. The company reported C$0.67 EPS for the quarter, beating the consensus estimate of C$0.63 by C$0.04. The business had revenue of C$1.16 billion for the quarter, compared to analyst estimates of C$1.47 billion. As a group, research analysts forecast that Emera Incorporated will post 2.96 EPS for the current fiscal year.

Emera Incorporated (EMA.TO) Company Profile (TSE:EMA)

Emera Incorporated, an energy and services company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company is also involved in gas transmission and utility energy services businesses; and the provision of energy marketing, trading, and other energy asset management services.

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