Third-quarter 2022 EPS estimates for Emera Incorporated reduced by analyst (TSE:EMA)
Emera Incorporated (TSE:EMA – Get Rating) – Equity research analysts Raymond James have cut their third quarter 2022 earnings estimates for Emera shares in a research note released Wednesday, August 10. Raymond James analyst D. Quezada now expects the company to post earnings per share of $0.70 for the quarter, down from its previous forecast of $0.74. The consensus estimate of Emera’s current annual earnings is $3.25 per share. Raymond James also released Emera earnings estimates for the fourth quarter of 2022 at $0.80 EPS.
EMA has been the subject of a number of other research reports. CIBC raised its price target on Emera shares from C$64.00 to C$66.00 in a Thursday, April 21 research note. Scotiabank raised Emera’s share price target from C$65.00 to C$69.00 in a Tuesday, April 19 research note. Royal Bank of Canada raised Emera’s share price target from C$66.00 to C$72.00 and gave the company an “outperform” rating in a Tuesday, May 17 research note. National Bankshares raised its price target on Emera shares from CA$59.00 to CA$60.00 and gave the stock an “sector performance” rating in a research note on Monday, May 16 . Finally, JPMorgan Chase & Co. lowered its price target on Emera shares from C$63.00 to C$59.00 in a Tuesday, July 26 research note. One equity research analyst has assigned the stock a sell rating, four have issued a hold rating and three have assigned the company’s stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of CA$65.30.
Emera trades up 0.7%
EMA shares opened at C$61.50 on Monday. The company’s 50-day moving average price is C$60.38 and its 200-day moving average price is C$61.24. The company has a market cap of C$16.35 billion and a price-earnings ratio of 26.97. The company has a current ratio of 0.67, a quick ratio of 0.25 and a debt ratio of 161.79. Emera has a 1-year low of C$56.87 and a 1-year high of C$65.23.
Emera (TSE:EMA – Get Rating) last announced its results on Friday, May 13. The company reported earnings per share of C$0.92 for the quarter, beating consensus analyst estimates of C$0.91 by C$0.01. The company posted revenue of C$2.02 billion for the quarter, versus a consensus estimate of C$1.58 billion.
Emera increases its dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15. Shareholders of record on Tuesday August 2 will receive a dividend of $0.663. The ex-dividend date is Friday, July 29. This is a boost from Emera’s previous quarterly dividend of $0.66. This represents an annualized dividend of $2.65 and a yield of 4.31%. Emera’s payout ratio is 114.04%.
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Emera Incorporated, an energy and utility company, through its subsidiaries, is engaged in the generation, transmission and distribution of electricity to various customers. The Company operates through Florida Electric Utilities, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure and Other segments.
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