Scotiabank Raises Emera (TSE:EMA) Price Target to C$69.00

Emera (TSE:EMA – Get Rating) had its price target lifted by analysts at Scotiabank from C$65.00 to C$69.00 in a report released on Tuesday, BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 6.79% from the stock’s current price.

Several other equities analysts have also recently issued reports on EMA. JPMorgan Chase & Co. reduced their target price on Emera to C$60.00 and set a “sell” rating on the stock in a research note on Tuesday, March 8th. TD Securities boosted their price objective on shares of Emera from C$64.00 to C$66.00 and gave the company a “buy” rating in a research report on Thursday, January 6th. Raymond James set a C$61.00 target price on shares of Emera and gave the stock a “market perform” rating in a research report on Tuesday, February 15th. CSFB lifted their target price on shares of Emera from C$63.00 to C$66.00 in a research note on Wednesday, April 13th. Finally, BMO Capital Markets increased their price target on shares of Emera from C$65.00 to C$68.00 in a research note on Friday, March 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$63.85.

EMA traded up C$0.39 during trading on Tuesday, hitting C$64.61. 209,558 shares of the stock traded hands, compared to its average volume of 1,138,342. The firm has a market capitalization of C$16.97 billion and a P/E ratio of 32.62. Emera has a 12-month low of C$55.42 and a 12-month high of C$64.97. The company has a debt-to-equity ratio of 162.19, a current ratio of 0.64 and a quick ratio of 0.30. The firm has a 50-day moving average of C$60.89 and a 200 day moving average of C$60.08.

Emera (TSE:EMA – Get Rating) last posted its earnings results on Monday, February 14th. The company reported C$0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.65 by C($0.01). The firm had revenue of C$1.87 billion for the quarter, compared to the consensus estimate of C$1.43 billion. As a group, equities analysts predict that Emera will post 3.2349946 EPS for the current fiscal year.

About Emera (Get Rating)

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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