Emerson Electric Co. (EMR) Issues FY14 Earnings Guidance
Emerson Electric Co. (NYSE:EMR) issued an update on its FY14 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.60-3.80 for the period, compared to the Thomson Reuters consensus estimate of $3.80, ARN reports. The company issued revenue guidance of $24.5-24.9 billion, compared to the consensus revenue estimate of $24.85 billion.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, February 4th. The company reported $0.67 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.67. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter last year, the company posted $0.62 earnings per share. Emerson Electric’s revenue was up 1.0% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, February 12th.
A number of analysts have recently weighed in on EMR shares. Analysts at Zacks reiterated a neutral rating on shares of Emerson Electric in a research note on Friday, January 3rd. They now have a $73.00 price target on the stock. On a related note, analysts at Credit Suisse reiterated a buy rating on shares of Emerson Electric in a research note on Wednesday, November 20th. They now have a $73.00 price target on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Emerson Electric from $68.00 to $71.00 in a research note on Wednesday, November 20th. They now have a market perform rating on the stock. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $64.87.
Emerson Electric Co (NYSE:EMR) is a diversified global technology company.
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