Emera Incorporated Forecasted to Post Q1 2024 Earnings of $0.74 Per Share (TSE:EMA)

Emera Incorporated (TSE:EMA) – Analysts at National Bank Financial issued their Q1 2024 EPS estimates for Emera in a research report issued to clients and investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny anticipates that the company will post earnings per share of $0.74 for the quarter. The consensus estimate for Emera’s current full-year earnings is $3.28 per share.

Emera (TSE:EMA) last posted its quarterly earnings results 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). Emera had a return on equity of 8.88% and a net margin of 13.80%. The business had revenue of C$1.97 billion during the quarter, compared to the consensus estimate of C$1.97 billion.

A number of other analysts have also weighed in on EMA. TD Securities dropped their price objective on Emera from C$62.00 to C$57.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Raymond James lowered their price objective on shares of Emera from C$55.00 to C$54.00 in a research note on Thursday. JPMorgan Chase & Co. cut their target price on Emera from C$50.00 to C$48.00 and set an “underweight” rating on the stock in a research note on Monday, January 22nd. Royal Bank of Canada dropped their price objective on 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, National Bankshares reduced their target price on Emera from C$50.00 to C$49.00 in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$54.50.

Emera Trading Down 0.9 %

TSE EMA opened at C$46.17 on Friday. The stock has a 50-day moving average of C$47.58 and a 200-day moving average of C$48.14. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 164.26. Emera has a 1-year low of C$43.67 and a 1-year high of C$59.52. The firm has a market cap of C$13.20 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 2.77 and a beta of 0.28.

Emera Announces Dividend

The business also recently disclosed 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 6.21%. 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.