Emerson Electric Given New $69.00 Price Target at JPMorgan Chase & Co. (EMR)
JPMorgan Chase & Co. cut their price objective on shares of Emerson Electric (NYSE:EMR) from $72.00 to $69.00 in a research note issued on Friday. JPMorgan Chase & Co.’s price objective suggests a potential upside of 9.87% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Nomura reiterated a “buy” rating on shares of Emerson Electric in a research note on Wednesday. They now have a $76.00 price target on the stock, down previously from $84.00. Separately, analysts at Morgan Stanley cut their price target on shares of Emerson Electric from $69.00 to $68.00 in a research note on Wednesday. Finally, analysts at Oppenheimer cut their price target on shares of Emerson Electric from $77.00 to $70.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Emerson Electric currently has an average rating of “Buy” and an average price target of $70.85.
Emerson Electric (NYSE:EMR) opened at 62.80 on Friday. 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 $66.33 and its 200-day moving average is $66.23. The company has a market cap of $44.167 billion and a price-to-earnings ratio of 17.37. Emerson Electric also was the recipient of unusually large options trading on Wednesday. Stock traders purchased 5,296 put options on the company. This represents an increase of approximately 289% compared to the average volume of 1,362 put options.
Emerson Electric (NYSE:EMR) last released its earnings data on Tuesday, August 5th. The company reported $1.03 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $1.04 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Analysts expect that Emerson Electric will post $3.70 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Wednesday, August 13th.
Emerson Electric Co (NYSE:EMR) is a diversified global technology company.
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