Scotiabank Has Optimistic Outlook of Emera FY2024 Earnings

Emera Incorporated (TSE:EMA) – Stock analysts at Scotiabank upped their FY2024 EPS estimates for Emera in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the company will earn $2.86 per share for the year, up from their previous forecast of $2.83. The consensus estimate for Emera’s current full-year earnings is $3.20 per share. Scotiabank also issued estimates for Emera’s FY2025 earnings at $3.23 EPS and FY2026 earnings at $3.38 EPS.

EMA has been the subject of several other research reports. Cibc World Mkts upgraded Emera from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Royal Bank of Canada raised their price objective on shares of Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Bank of America raised shares of Emera from a “neutral” rating to a “buy” rating and increased their target price for the company from C$55.00 to C$57.00 in a report on Monday, November 25th. JPMorgan Chase & Co. raised Emera from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Finally, Wells Fargo & Company raised their price objective on Emera from C$51.00 to C$56.00 in a research note on Monday, December 9th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$57.10.

Emera Stock Performance

Shares of EMA stock opened at C$52.96 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 155.62. The stock has a 50 day simple moving average of C$52.95 and a 200-day simple moving average of C$50.85. The company has a market cap of C$15.27 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. Emera has a 12-month low of C$44.13 and a 12-month high of C$56.20.

Emera Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were issued a $0.725 dividend. The ex-dividend date was Friday, November 1st. This represents a $2.90 dividend on an annualized basis and a yield of 5.48%. Emera’s dividend payout ratio (DPR) is 112.84%.

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.