Buckingham Research Begins Coverage on Emerson Electric (EMR)
Analysts at Buckingham Research initiated coverage on shares of Emerson Electric (NYSE:EMR) in a research report issued to clients and investors on Friday. The firm set a “neutral” rating and a $67.00 price target on the stock. Buckingham Research’s price target would suggest a potential upside of 3.65% from the company’s current price.
Emerson Electric (NYSE:EMR) opened at 64.64 on Friday. Emerson Electric has a one year low of $60.85 and a one year high of $70.66. The stock has a 50-day moving average of $64.57 and a 200-day moving average of $66.01. The company has a market cap of $45.113 billion and a price-to-earnings ratio of 18.07.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results 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 $3.71 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders 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 2.66%. The ex-dividend date is Wednesday, August 13th.
EMR has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. cut their price target on shares of Emerson Electric from $72.00 to $69.00 in a research note on Friday, August 8th. Separately, analysts at Nomura reiterated a “buy” rating on shares of Emerson Electric in a research note on Wednesday, August 6th. They now have a $76.00 price target on the stock, down previously from $84.00. Finally, 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, August 6th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $70.77.
Emerson Electric Co (NYSE:EMR) is a diversified global technology company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.