Emerson Electric (NYSE:EMR) Issues Q3 Earnings Guidance

Emerson Electric (NYSE:EMR) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.38-$1.42 for the period, compared to the consensus earnings per share estimate of $1.44. Emerson Electric also updated its FY 2024 guidance to 5.400-5.500 EPS.

Emerson Electric Stock Up 3.3 %

NYSE:EMR traded up $3.52 on Wednesday, hitting $110.92. The stock had a trading volume of 3,002,552 shares, compared to its average volume of 2,785,402. The company has a market cap of $63.31 billion, a PE ratio of 5.60, a P/E/G ratio of 1.84 and a beta of 1.36. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average is $110.61 and its 200 day moving average is $99.95. Emerson Electric has a 52 week low of $76.94 and a 52 week high of $115.26.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. On average, equities research analysts expect that Emerson Electric will post 5.4 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.89%. Emerson Electric’s payout ratio is 10.94%.

Analyst Ratings Changes

A number of analysts recently issued reports on EMR shares. Mizuho increased their price objective on Emerson Electric from $118.00 to $130.00 and gave the stock a buy rating in a report on Thursday, February 8th. Citigroup increased their price objective on Emerson Electric from $120.00 to $133.00 and gave the stock a buy rating in a report on Monday, April 8th. Barclays raised their price target on Emerson Electric from $95.00 to $105.00 and gave the company an equal weight rating in a report on Tuesday, April 2nd. Berenberg Bank raised their price target on Emerson Electric from $100.00 to $130.00 and gave the company a buy rating in a report on Wednesday, March 6th. Finally, KeyCorp raised their price target on Emerson Electric from $120.00 to $125.00 and gave the company an overweight rating in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $118.07.

Insider Activity

In related news, Director Mark A. Blinn sold 2,413 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $103.18, for a total transaction of $248,973.34. Following the transaction, the director now directly owns 9,591 shares in the company, valued at approximately $989,599.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

About Emerson Electric

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.