Raymond James Comments on Emera Incorporated’s FY2024 Earnings (TSE:EMA)

Emera Incorporated (TSE:EMA) – Equities researchers at Raymond James dropped their FY2024 EPS estimates for shares of Emera in a note issued to investors on Thursday, April 25th. Raymond James analyst D. Quezada now expects that the company will post earnings of $2.89 per share for the year, down from their previous forecast of $3.17. The consensus estimate for Emera’s current full-year earnings is $3.28 per share. Raymond James also issued estimates for Emera’s Q1 2025 earnings at $1.01 EPS and Q4 2025 earnings at $0.84 EPS.

EMA has been the subject of several other reports. National Bankshares decreased their price objective on shares of Emera from C$50.00 to C$49.00 in a report on Tuesday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of Emera from C$50.00 to C$48.00 and set an “underweight” rating for the company in a report on Monday, January 22nd. TD Securities decreased their price objective on shares of Emera from C$62.00 to C$57.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Royal Bank of Canada decreased their price objective on shares of Emera from C$62.00 to C$60.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. Finally, Scotiabank decreased their price target on shares of Emera from C$56.00 to C$52.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$54.50.

Emera Price Performance

Shares of EMA stock opened at C$46.43 on Friday. The firm has a market cap of C$13.27 billion, a P/E ratio of 13.01, a P/E/G ratio of 2.77 and a beta of 0.28. The company has a debt-to-equity ratio of 164.26, a current ratio of 0.82 and a quick ratio of 0.23. Emera has a 1-year low of C$43.67 and a 1-year high of C$59.52. The firm has a fifty day moving average of C$47.54 and a two-hundred day moving average of C$48.13.

Emera (TSE:EMA) last announced its quarterly earnings data on Monday, February 26th. The company reported C$0.63 earnings per share for the quarter, missing the consensus estimate of C$0.71 by C($0.08). The company had revenue of C$1.97 billion for the quarter, compared to analyst estimates of C$1.97 billion. Emera had a return on equity of 8.88% and a net margin of 13.80%.

Emera Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.717 per share. This represents a $2.87 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date is Tuesday, April 30th. Emera’s payout ratio is 80.39%.

About Emera

Emera Incorporated, 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.