Royal Bank of Canada Boosts Emera (TSE:EMA) Price Target to C$72.00

Emera (TSE:EMAGet Rating) had its target price upped by equities researchers at Royal Bank of Canada from C$66.00 to C$72.00 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 14.01% from the company’s current price.

EMA has been the topic of several other research reports. Scotiabank raised their target price on shares of Emera from C$65.00 to C$69.00 in a research note on Tuesday, April 19th. CIBC raised their target price on shares of Emera from C$64.00 to C$66.00 in a research note on Thursday, April 21st. Raymond James set a C$61.00 target price on shares of Emera and gave the company a “market perform” rating in a research note on Tuesday, February 15th. JPMorgan Chase & Co. lowered their target price on shares of Emera to C$60.00 and set a “sell” rating on the stock in a research note on Tuesday, March 8th. Finally, BMO Capital Markets lifted their price objective on shares of Emera from C$65.00 to C$68.00 in a research note on Friday, March 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$64.54.

TSE:EMA traded up C$0.47 during mid-day trading on Tuesday, hitting C$63.15. The stock had a trading volume of 252,478 shares, compared to its average volume of 1,227,000. The stock has a market capitalization of C$16.59 billion and a price-to-earnings ratio of 31.93. The company has a 50 day simple moving average of C$62.38 and a 200-day simple moving average of C$60.85. Emera has a 52 week low of C$55.90 and a 52 week high of C$65.23. The company has a current ratio of 0.64, a quick ratio of 0.30 and a debt-to-equity ratio of 162.19.

Emera (TSE:EMAGet Rating) last released its earnings results on Monday, February 14th. The company reported C$0.64 EPS for the quarter, missing the consensus estimate of C$0.65 by C($0.01). The business had revenue of C$1.87 billion for the quarter, compared to analysts’ expectations of C$1.43 billion. As a group, equities research analysts anticipate that Emera will post 3.2500001 earnings per share for the current 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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