Raymond James Increases Emera (TSE:EMA) Price Target to C$57.00

Emera (TSE:EMA) had its price objective boosted by equities researchers at Raymond James from C$54.00 to C$57.00 in a report issued on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target suggests a potential upside of 16.30% from the company’s previous close.

EMA has been the subject of a number of other reports. Wells Fargo & Company boosted their price target on Emera from C$49.00 to C$53.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 14th. TD Securities cut their price target on Emera from C$57.00 to C$54.00 and set a “buy” rating for the company in a report on Tuesday, May 14th. CIBC cut their price target on Emera from C$51.00 to C$50.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. BMO Capital Markets boosted their price target on Emera from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Finally, Royal Bank of Canada lowered their price objective on Emera from C$60.00 to C$57.00 and set an “outperform” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$50.56.

Emera Price Performance

EMA stock traded down C$0.14 during midday trading on Monday, hitting C$49.01. 235,278 shares of the stock were exchanged, compared to its average volume of 1,264,385. The stock’s 50-day moving average price is C$47.04 and its 200-day moving average price is C$47.51. The stock has a market cap of C$14.05 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.77 and a beta of 0.28. Emera has a fifty-two week low of C$43.67 and a fifty-two week high of C$52.31. The company has a debt-to-equity ratio of 160.58, a quick ratio of 0.23 and a current ratio of 0.73.

Emera (TSE:EMA) last issued its quarterly earnings data on Monday, May 13th. The company reported C$0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.79 by C($0.03). Emera had a return on equity of 5.71% and a net margin of 9.69%. The firm had revenue of C$2.02 billion for the quarter, compared to analyst estimates of C$2.04 billion. Research analysts predict that Emera will post 3.0053635 earnings per share for the current year.

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.