Q1 2024 Earnings Estimate for Emera Incorporated Issued By Raymond James (TSE:EMA)

Emera Incorporated (TSE:EMA) – Equities researchers at Raymond James reduced their Q1 2024 earnings per share estimates for shares of Emera in a research note issued on Thursday, April 25th. Raymond James analyst D. Quezada now expects that the company will earn $0.72 per share for the quarter, down from their prior forecast of $1.01. The consensus estimate for Emera’s current full-year earnings is $3.28 per share. Raymond James also issued estimates for Emera’s Q2 2024 earnings at $0.58 EPS, Q3 2024 earnings at $0.76 EPS, Q4 2024 earnings at $0.83 EPS, Q2 2025 earnings at $0.57 EPS, Q3 2025 earnings at $0.76 EPS and FY2025 earnings at $3.18 EPS.

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

EMA has been the topic of several other research reports. National Bankshares cut their price target on Emera from C$50.00 to C$49.00 in a report on Tuesday, February 27th. Royal Bank of Canada dropped their price target 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. Scotiabank dropped their price target 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. JPMorgan Chase & Co. decreased their target price on Emera from C$50.00 to C$48.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. Finally, TD Securities reduced their price target on Emera from C$62.00 to C$57.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$54.50.

Emera Trading Up 0.7 %

Shares of EMA stock opened at C$46.43 on Monday. The stock has a 50-day moving average of C$47.47 and a 200-day moving average of C$48.11. Emera has a 1-year low of C$43.67 and a 1-year high of C$59.52. The stock has a market cap of C$13.27 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 2.77 and a beta of 0.28. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 164.26.

Emera Dividend Announcement

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