Emerson Electric Company (EMR) Rating Lowered to Strong Sell at BidaskClub
Emerson Electric Company (NYSE:EMR) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. JMP Securities initiated coverage on shares of Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 target price on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Berenberg Bank reiterated a “sell” rating and issued a $53.00 price target on shares of Emerson Electric in a report on Friday, August 11th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. Emerson Electric has an average rating of “Hold” and an average price target of $58.14.
Emerson Electric (EMR) traded down 0.50% during trading on Friday, hitting $58.00. The company’s stock had a trading volume of 2,063,512 shares. Emerson Electric has a one year low of $49.22 and a one year high of $64.36. The firm has a market cap of $37.12 billion, a PE ratio of 25.88 and a beta of 1.20. The company has a 50-day moving average of $59.85 and a 200 day moving average of $59.81.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities analysts forecast that Emerson Electric will post $2.61 earnings per share for the current year.
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Hedge funds have recently modified their holdings of the company. Somerset Trust Co raised its stake in shares of Emerson Electric by 2.2% in the first quarter. Somerset Trust Co now owns 21,828 shares of the industrial products company’s stock worth $1,306,000 after buying an additional 474 shares in the last quarter. Benedict Financial Advisors Inc. increased its stake in Emerson Electric by 0.6% in the first quarter. Benedict Financial Advisors Inc. now owns 46,836 shares of the industrial products company’s stock worth $2,804,000 after buying an additional 262 shares during the last quarter. Viking Fund Management LLC increased its stake in Emerson Electric by 50.0% in the first quarter. Viking Fund Management LLC now owns 51,000 shares of the industrial products company’s stock worth $3,053,000 after buying an additional 17,000 shares during the last quarter. Pinnacle Financial Partners Inc. increased its stake in Emerson Electric by 10.4% in the first quarter. Pinnacle Financial Partners Inc. now owns 61,784 shares of the industrial products company’s stock worth $3,698,000 after buying an additional 5,844 shares during the last quarter. Finally, Princeton Alpha Management LP acquired a new stake in Emerson Electric during the first quarter worth approximately $461,000. 69.42% of the stock is owned by institutional investors.
About Emerson Electric
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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