Emerson Electric Price Target Cut to $70.00 by Analysts at Oppenheimer (EMR)
Equities research analysts at Oppenheimer reduced their price target on shares of Emerson Electric (NYSE:EMR) from $77.00 to $70.00 in a research note issued to investors on Wednesday. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 13.18% from the stock’s previous close.
A number of other firms have also recently commented on EMR. Analysts at Zacks reiterated a “neutral” rating on shares of Emerson Electric in a research note on Friday, July 18th. They now have a $71.00 price target on the stock. Separately, analysts at Argus upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a research note on Friday, July 11th. They now have a $75.00 price target on the stock. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $70.54.
Emerson Electric (NYSE:EMR) traded down 1.58% during mid-day trading on Wednesday, hitting $61.85. 5,195,181 shares of the company’s stock traded hands. Emerson Electric has a 52-week low of $60.14 and a 52-week high of $70.66. The stock’s 50-day moving average is $66.76 and its 200-day moving average is $66.32. The company has a market cap of $43.403 billion and a P/E ratio of 22.53. Emerson Electric also was the target of unusually large options trading on Wednesday. Stock investors acquired 5,296 put options on the company. This represents an increase of approximately 289% compared to the typical daily volume of 1,362 put options.
Emerson Electric (NYSE:EMR) last released its earnings data on Tuesday, August 5th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by $0.03. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts expect that Emerson Electric will post $3.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, August 13th.
Emerson Electric Co (NYSE:EMR) is a diversified global technology company.
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