Emerson Electric (NYSE:EMR) Updates Q3 2024 Earnings Guidance

Emerson Electric (NYSE:EMR) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.380-1.420 for the period, compared to the consensus estimate of 1.440. The company issued revenue guidance of $4.4 billion-$4.4 billion, compared to the consensus revenue estimate of $4.5 billion. Emerson Electric also updated its FY 2024 guidance to 5.400-5.500 EPS.

Emerson Electric Trading Up 3.7 %

EMR traded up $3.97 during trading on Wednesday, hitting $111.37. The company’s stock had a trading volume of 2,634,422 shares, compared to its average volume of 2,780,580. Emerson Electric has a twelve month low of $76.94 and a twelve month high of $115.26. The firm’s 50 day moving average price is $110.61 and its 200-day moving average price is $99.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.12 and a quick ratio of 0.80. The stock has a market cap of $63.57 billion, a PE ratio of 5.60, a PEG ratio of 1.84 and a beta of 1.36.

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

Emerson Electric Dividend Announcement

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

Wall Street Analysts Forecast Growth

EMR has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of Emerson Electric from $106.00 to $120.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Mizuho increased their price target on Emerson Electric from $118.00 to $130.00 and gave the company a buy rating in a report on Thursday, February 8th. Citigroup lifted 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. KeyCorp raised their price target on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Finally, Berenberg Bank upped their price target on shares of Emerson Electric from $100.00 to $130.00 and gave the company a buy rating in a report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $118.07.

Insider Buying and Selling

In related news, Director Mark A. Blinn sold 2,413 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $103.18, for a total value of $248,973.34. Following the completion of the transaction, the director now directly owns 9,591 shares of the company’s stock, valued at approximately $989,599.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.