Emera Incorporated (TSE:EMA) Expected to Earn Q3 2023 Earnings of $0.70 Per Share

Emera Incorporated (TSE:EMA) – Equities research analysts at National Bank Financial issued their Q3 2023 earnings per share (EPS) estimates for shares of Emera in a report issued on Tuesday, October 24th. National Bank Financial analyst P. Kenny forecasts that the company will earn $0.70 per share for the quarter. The consensus estimate for Emera’s current full-year earnings is $3.33 per share.

Other equities analysts have also recently issued reports about the company. National Bankshares reduced their target price on Emera from C$55.00 to C$50.00 and set a “sector perform” rating for the company in a research note on Thursday, October 19th. Raymond James dropped their target price on Emera from C$62.00 to C$59.00 and set an “outperform” rating on the stock in a research report on Thursday. CIBC dropped their target price on Emera from C$56.00 to C$53.00 and set a “neutral” rating on the stock in a research report on Thursday, October 19th. Scotiabank lowered their price target on Emera from C$57.00 to C$54.00 and set a “sector perform” rating on the stock in a report on Monday, October 16th. Finally, TD Securities lowered their price target on Emera from C$65.00 to C$64.00 and set a “buy” rating on the stock in a report on Monday, August 14th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$57.78.

Emera Stock Performance

Emera stock opened at C$46.18 on Thursday. The stock has a market cap of C$12.61 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 2.77 and a beta of 0.27. The company has a current ratio of 0.69, a quick ratio of 0.23 and a debt-to-equity ratio of 167.16. The stock has a 50 day moving average of C$48.96 and a 200-day moving average of C$53.15. Emera has a 52 week low of C$43.67 and a 52 week high of C$59.52.

Emera (TSE:EMA) last released its quarterly earnings results on Friday, August 11th. The company reported C$0.60 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.02). The company had revenue of C$1.42 billion during the quarter, compared to analysts’ expectations of C$1.84 billion. Emera had a return on equity of 11.81% and a net margin of 16.19%.

Emera Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be given a $0.717 dividend. This is a positive change from Emera’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, October 31st. This represents a $2.87 dividend on an annualized basis and a dividend yield of 6.21%. Emera’s dividend payout ratio (DPR) is 62.53%.

About Emera

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.