Zacks: Brokerages Expect Emerson Electric Co. (EMR) Will Post Quarterly Sales of $3.89 Billion
Equities analysts expect Emerson Electric Co. (NYSE:EMR) to announce $3.89 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Emerson Electric’s earnings, with estimates ranging from $3.71 billion to $4.1 billion. Emerson Electric posted sales of $5.13 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 24.2%. The business is scheduled to issue its next earnings results on Tuesday, August 1st.
On average, analysts expect that Emerson Electric will report full year sales of $3.89 billion for the current financial year, with estimates ranging from $14.4 billion to $15.29 billion. For the next fiscal year, analysts forecast that the firm will post sales of $16.04 billion per share, with estimates ranging from $15.15 billion to $16.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Emerson Electric.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $0.58 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.49 billion. Emerson Electric had a net margin of 8.50% and a return on equity of 24.26%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS.
EMR has been the topic of a number of recent research reports. Berenberg Bank reaffirmed a “sell” rating and set a $53.00 price target on shares of Emerson Electric in a research note on Wednesday, February 22nd. Stifel Nicolaus increased their target price on shares of Emerson Electric from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Zacks Investment Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Tuesday, February 14th. Cowen and Company restated a “hold” rating and issued a $62.00 price target on shares of Emerson Electric in a report on Tuesday, May 2nd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $58.00 price target on shares of Emerson Electric in a report on Tuesday, April 11th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company’s stock. Emerson Electric presently has a consensus rating of “Hold” and an average price target of $55.34.
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Shares of Emerson Electric (NYSE:EMR) opened at 58.92 on Friday. The stock’s 50 day moving average is $59.13 and its 200 day moving average is $58.47. The stock has a market cap of $37.97 billion, a PE ratio of 25.17 and a beta of 1.17. Emerson Electric has a 52-week low of $48.45 and a 52-week high of $64.36.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 12th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.26%. Emerson Electric’s payout ratio is 77.73%.
Large investors have recently modified their holdings of the company. Northwest Quadrant Wealth Management LLC purchased a new stake in shares of Emerson Electric during the fourth quarter worth approximately $111,000. Elgethun Capital Management purchased a new stake in shares of Emerson Electric during the fourth quarter worth approximately $114,000. First Command Financial Services Inc. boosted its stake in shares of Emerson Electric by 18.9% in the first quarter. First Command Financial Services Inc. now owns 1,935 shares of the industrial products company’s stock worth $116,000 after buying an additional 307 shares during the last quarter. RidgeWorth Capital Management LLC boosted its stake in shares of Emerson Electric by 23.1% in the fourth quarter. RidgeWorth Capital Management LLC now owns 2,183 shares of the industrial products company’s stock worth $122,000 after buying an additional 410 shares during the last quarter. Finally, Central Bank & Trust Co. boosted its stake in shares of Emerson Electric by 31.3% in the first quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock worth $126,000 after buying an additional 500 shares during the last quarter. 71.04% of the stock is currently owned by institutional investors and hedge funds.
Emerson Electric Company Profile
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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