Emerson Electric (NYSE:EMR) Announces Earnings Results

Emerson Electric (NYSE:EMR) issued its earnings results on Wednesday. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01, Briefing.com reports. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the previous year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Emerson Electric updated its FY24 guidance to $5.45-5.50 EPS and its FY 2024 guidance to 5.450-5.500 EPS.

Emerson Electric Stock Down 0.9 %

Shares of Emerson Electric stock traded down $0.92 during trading on Friday, hitting $103.69. 3,644,583 shares of the stock were exchanged, compared to its average volume of 2,688,658. The stock has a market cap of $59.32 billion, a price-to-earnings ratio of 5.55, a price-to-earnings-growth ratio of 1.93 and a beta of 1.32. The firm’s 50-day moving average price is $110.58 and its 200 day moving average price is $109.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.18 and a quick ratio of 0.87. Emerson Electric has a 12-month low of $83.10 and a 12-month high of $119.53.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, August 16th. Emerson Electric’s dividend payout ratio is presently 11.24%.

Analysts Set New Price Targets

EMR has been the subject of several analyst reports. Robert W. Baird upped their target price on Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday. Redburn Atlantic initiated coverage on shares of Emerson Electric in a research note on Monday, July 8th. They set a “buy” rating and a $135.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised shares of Emerson Electric from a “hold” rating to a “buy” rating and increased their price target for the company from $123.00 to $138.00 in a research note on Thursday, May 9th. Mizuho upped their price objective on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Wells Fargo & Company cut their target price on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.89.

Emerson Electric Company Profile

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.