Raymond James Comments on Emera Incorporated’s FY2024 Earnings (TSE:EMA)

Emera Incorporated (TSE:EMA) – Research analysts at Raymond James cut their FY2024 earnings per share (EPS) estimates for shares of Emera in a research report issued to clients and investors on Thursday, April 25th. Raymond James analyst D. Quezada now forecasts that the company will post earnings of $2.89 per share for the year, down from their prior estimate of $3.17. The consensus estimate for Emera’s current full-year earnings is $3.28 per share. Raymond James also issued estimates for Emera’s Q1 2025 earnings at $1.01 EPS and Q4 2025 earnings at $0.84 EPS.

Emera (TSE:EMA) last posted its earnings results on Monday, February 26th. The company reported C$0.63 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.71 by C($0.08). The business had revenue of C$1.97 billion for the quarter, compared to analyst estimates of C$1.97 billion. Emera had a return on equity of 8.88% and a net margin of 13.80%.

A number of other research analysts have also commented on the company. Scotiabank decreased their price objective on Emera from C$56.00 to C$52.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. CIBC decreased their price objective on Emera from C$53.00 to C$51.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. JPMorgan Chase & Co. decreased their price objective on Emera from C$50.00 to C$48.00 and set an “underweight” rating on the stock in a report on Monday, January 22nd. National Bankshares decreased their price objective on Emera from C$50.00 to C$49.00 in a report on Tuesday, February 27th. Finally, Royal Bank of Canada decreased their price objective on Emera from C$62.00 to C$60.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$54.50.

Emera Stock Up 0.6 %

EMA stock opened at C$46.43 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 164.26. The firm has a market capitalization of C$13.27 billion, a PE ratio of 13.01, a PEG ratio of 2.77 and a beta of 0.28. Emera has a 1-year low of C$43.67 and a 1-year high of C$59.52. The business’s 50 day simple moving average is C$47.54 and its 200 day simple moving average is C$48.13.

Emera Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.717 per share. This represents a $2.87 annualized dividend and a dividend yield of 6.18%. The ex-dividend date is Tuesday, April 30th. Emera’s dividend payout ratio (DPR) is currently 80.39%.

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.