Raymond James Weighs in on Emera Incorporated’s Q1 2023 Earnings (TSE:EMA)

Posted by on Apr 28th, 2023

Emera Incorporated (TSE:EMA – Get Rating) – Stock analysts at Raymond James lowered their Q1 2023 earnings estimates for shares of Emera in a report issued on Wednesday, April 26th. Raymond James analyst D. Quezada now anticipates that the company will post earnings of $0.93 per share for the quarter, down from their previous forecast of $1.04. The consensus estimate for Emera’s current full-year earnings is $3.21 per share. Raymond James also issued estimates for Emera’s Q2 2023 earnings at $0.65 EPS and FY2024 earnings at $3.34 EPS.

Emera (TSE:EMA – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported C$0.93 EPS for the quarter, beating analysts’ consensus estimates of C$0.70 by C$0.23. The business had revenue of C$2.36 billion during the quarter, compared to analyst estimates of C$1.83 billion. Emera had a net margin of 13.28% and a return on equity of 9.35%.

A number of other equities analysts also recently issued reports on the stock. Scotiabank lifted their price objective on shares of Emera from C$59.00 to C$61.00 in a report on Monday, January 23rd. CSFB upped their price target on Emera from C$54.00 to C$55.00 in a research report on Thursday, January 26th. TD Securities upped their price objective on shares of Emera from C$63.00 to C$64.00 and gave the stock a “buy” rating in a research report on Friday, February 24th. CIBC increased their price objective on Emera from C$56.00 to C$58.00 in a research note on Friday, April 21st. Finally, UBS Group dropped their price target on Emera from C$65.00 to C$62.00 in a research note on Monday, March 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$60.18.

Emera Stock Performance

Shares of EMA stock opened at C$58.65 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.23 and a debt-to-equity ratio of 167.00. The firm has a market capitalization of C$15.92 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 3.07 and a beta of 0.23. The firm has a fifty day simple moving average of C$55.69 and a two-hundred day simple moving average of C$53.57. Emera has a 12 month low of C$48.63 and a 12 month high of C$64.93.

Emera Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Monday, May 15th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Friday, April 28th. This represents a $2.76 annualized dividend and a yield of 4.71%. Emera’s payout ratio is 77.75%.

About Emera

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Emera Incorporated, an energy and services company, 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.

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