Zacks Reiterates Neutral Rating for Emerson Electric (EMR)
Emerson Electric (NYSE:EMR)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Friday, AnalystRatingsNetwork reports. They currently have a $73.00 target price on the stock. Zacks‘ price objective points to a potential upside of 5.34% from the company’s current price.
Zacks‘ analyst wrote, “Emerson Electric Company is a global technological solutions provider for industrial, commercial and consumer markets. We are reaffirming our Neutral recommendation with a target price of $73. The company reported strong fourth-quarter earnings that surged 203% year on year. The company’s modest operational execution and returns from the restructuring investments led to the growth of the company. During the reported quarter, the company has shown positive growth in regions like Latin America, Middle-East, Asia, Canada, Europe and Africa whereas underlying sales declined in major economies like the U.S. The company is taking strategic decisions to boost profits by restructuring and cost-containment initiatives across its businesses. However, we remain on the sidelines for the time being due to continued economic weakness in the U.S., Europe, and mixed global economic indicators.”
Emerson Electric (NYSE:EMR) traded up 0.10% during mid-day trading on Friday, hitting $69.37. 847,914 shares of the company’s stock traded hands. Emerson Electric has a 52 week low of $53.09 and a 52 week high of $70.66. The stock has a 50-day moving average of $67.70 and a 200-day moving average of $63.35. The company has a market cap of $48.834 billion and a P/E ratio of 25.11.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, November 5th. The company reported $1.10 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.11 by $0.01. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts predict that Emerson Electric will post $3.81 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated a “buy” rating on shares of Emerson Electric in a research note to investors on Wednesday, November 20th. They now have a $73.00 price target on the stock. Separately, analysts at Sanford C. Bernstein raised their price target on shares of Emerson Electric from $68.00 to $71.00 in a research note to investors on Wednesday, November 20th. They now have a “market perform” rating on the stock. Finally, analysts at MKM Partners raised their price target on shares of Emerson Electric from $60.00 to $71.00 in a research note to investors on Thursday, November 7th. They now have a “neutral” rating on the stock. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.06.
Emerson Electric Co (NYSE:EMR) is a diversified global technology company.
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