Emerson Electric Co. (EMR) Raised to Hold at Zacks Investment Research
Emerson Electric Co. (NYSE:EMR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Emerson has a choppy earnings beat history, having missed estimates twice for as many beats over the four trailing quarters. Of late, the company's revenues have been declining, hurt by weak industrial spending and volatile oil prices. Business investments for the last nine months were negative and the company expects this trend to continue till 2017, thereby adding to its concerns. However, on the positive side, the company’s aggressive restructuring actions are starting to exert a tangible impact on margins. Meanwhile, the company has already vended Network Power and plans to divest Leroy-Somer and Control Techniques soon. This reflects the company’s commitment to reallocate its resources to capitalize on more favorable prospects in downstream and life sciences markets. Moreover, the company’s profitable business model and sound financial health add to its strength.”
Other equities research analysts have also recently issued reports about the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Emerson Electric in a research note on Sunday, July 10th. Stifel Nicolaus reduced their price target on Emerson Electric from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Barclays PLC reduced their price target on Emerson Electric from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 3rd. Deutsche Bank AG reduced their price target on Emerson Electric from $55.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, August 8th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Emerson Electric in a research note on Wednesday, June 22nd. Seven research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.91.
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Shares of Emerson Electric (NYSE:EMR) traded up 0.24% during midday trading on Wednesday, hitting $50.00. The stock had a trading volume of 3,245,287 shares. The stock has a market cap of $32.18 billion, a PE ratio of 17.71 and a beta of 1.19. The stock’s 50-day moving average is $51.99 and its 200-day moving average is $53.19. Emerson Electric has a 12 month low of $41.25 and a 12 month high of $56.82.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The firm earned $5.10 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. Equities analysts anticipate that Emerson Electric will post $2.92 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Capital One National Association boosted its stake in Emerson Electric by 0.4% in the second quarter. Capital One National Association now owns 7,431 shares of the company’s stock valued at $388,000 after buying an additional 27 shares in the last quarter. NEXT Financial Group Inc boosted its stake in Emerson Electric by 0.6% in the second quarter. NEXT Financial Group Inc now owns 5,020 shares of the company’s stock valued at $261,000 after buying an additional 31 shares in the last quarter. Private Trust Co. NA boosted its stake in Emerson Electric by 0.3% in the third quarter. Private Trust Co. NA now owns 9,111 shares of the company’s stock valued at $496,000 after buying an additional 31 shares in the last quarter. Stock Yards Bank & Trust Co. boosted its stake in Emerson Electric by 0.6% in the third quarter. Stock Yards Bank & Trust Co. now owns 7,063 shares of the company’s stock valued at $385,000 after buying an additional 39 shares in the last quarter. Finally, Telemus Capital LLC boosted its stake in Emerson Electric by 0.9% in the third quarter. Telemus Capital LLC now owns 4,734 shares of the company’s stock valued at $258,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 69.38% of the company’s stock.
Emerson Electric Company Profile
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
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