Emerson Electric (NYSE:EMR) Issues Q2 Earnings Guidance

Emerson Electric (NYSE:EMRGet Free Report) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.22-1.26 for the period, compared to the consensus EPS estimate of $1.25. The company issued revenue guidance of $4.23-4.30 billion, compared to the consensus revenue estimate of $4.25 billion. Emerson Electric also updated its FY 2024 guidance to 5.300-5.450 EPS.

Emerson Electric Stock Performance

EMR opened at $103.19 on Friday. The stock has a market cap of $58.99 billion, a PE ratio of 5.37, a P/E/G ratio of 1.87 and a beta of 1.34. The company has a current ratio of 1.12, a quick ratio of 2.35 and a debt-to-equity ratio of 0.29. Emerson Electric has a 1 year low of $76.94 and a 1 year high of $105.71. The stock’s 50 day simple moving average is $94.78 and its 200-day simple moving average is $94.13.

Emerson Electric (NYSE:EMRGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. Sell-side analysts forecast that Emerson Electric will post 5.36 EPS for the current year.

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 16th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, February 15th. Emerson Electric’s dividend payout ratio (DPR) is 10.94%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EMR shares. Royal Bank of Canada increased their target price on Emerson Electric from $106.00 to $120.00 and gave the stock an outperform rating in a report on Thursday. Barclays upped their price target on Emerson Electric from $91.00 to $95.00 and gave the company an equal weight rating in a research note on Thursday. Mizuho upped their price target on Emerson Electric from $118.00 to $130.00 and gave the company a buy rating in a research note on Thursday. Stephens cut their price target on Emerson Electric from $120.00 to $105.00 and set an overweight rating on the stock in a research note on Friday, November 10th. Finally, UBS Group cut their price target on Emerson Electric from $104.00 to $95.00 and set a neutral rating on the stock in a research note on Wednesday, November 22nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Emerson Electric currently has an average rating of Moderate Buy and an average price target of $109.06.

Read Our Latest Stock Analysis on EMR

Insider Activity

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai acquired 10,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was bought at an average cost of $88.20 per share, with a total value of $882,000.00. Following the completion of the transaction, the chief executive officer now directly owns 148,542 shares in the company, valued at approximately $13,101,404.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Emerson Electric

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC raised its holdings in Emerson Electric by 105,280.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,417,593 shares of the industrial products company’s stock valued at $5,227,354,000 after acquiring an additional 54,365,954 shares in the last quarter. Morgan Stanley increased its stake in shares of Emerson Electric by 28.4% in the 4th quarter. Morgan Stanley now owns 11,835,398 shares of the industrial products company’s stock valued at $1,136,909,000 after purchasing an additional 2,621,089 shares during the last quarter. Norges Bank bought a new position in shares of Emerson Electric in the 4th quarter valued at $702,606,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Emerson Electric by 3.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,801,331 shares of the industrial products company’s stock valued at $653,339,000 after purchasing an additional 255,652 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Emerson Electric by 7.6% in the 2nd quarter. Royal Bank of Canada now owns 4,244,505 shares of the industrial products company’s stock valued at $383,661,000 after purchasing an additional 298,434 shares during the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Emerson Electric (NYSE:EMR)

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