Emerson Electric Company (EMR) Expected to Announce Quarterly Sales of $4.35 Billion
Wall Street brokerages expect that Emerson Electric Company (NYSE:EMR) will report sales of $4.35 billion for the current quarter, Zacks reports. Seven analysts have made estimates for Emerson Electric’s earnings, with the highest sales estimate coming in at $4.48 billion and the lowest estimate coming in at $3.96 billion. Emerson Electric reported sales of $5.50 billion in the same quarter last year, which would suggest a negative year over year growth rate of 20.9%. The company is expected to report its next earnings results on Tuesday, November 7th.
On average, analysts expect that Emerson Electric will report full year sales of $4.35 billion for the current year, with estimates ranging from $15.19 billion to $15.32 billion. For the next financial year, analysts forecast that the company will report sales of $16.66 billion per share, with estimates ranging from $15.15 billion to $17.21 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Emerson Electric.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, meeting 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 the consensus estimate of $3.99 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year.
A number of research firms recently weighed in on EMR. BidaskClub lowered shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Berenberg Bank reissued a “sell” rating and set a $53.00 price target on shares of Emerson Electric in a research report on Friday, August 11th. Royal Bank Of Canada reissued a “sector perform” rating and set a $62.00 price target (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Cowen and Company reissued a “hold” rating and set a $62.00 price target on shares of Emerson Electric in a research report on Tuesday, May 2nd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.71.
Shares of Emerson Electric (EMR) opened at 58.56 on Friday. The company has a market capitalization of $37.48 billion, a P/E ratio of 26.13 and a beta of 1.20. The firm has a 50-day moving average of $59.67 and a 200 day moving average of $59.78. Emerson Electric has a 1-year low of $49.22 and a 1-year high of $64.36.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 3.28%. Emerson Electric’s dividend payout ratio (DPR) is currently 85.33%.
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Emerson Electric by 1.1% in the second quarter. Vanguard Group Inc. now owns 44,195,877 shares of the industrial products company’s stock valued at $2,634,958,000 after buying an additional 497,625 shares during the period. BlackRock Inc. increased its position in Emerson Electric by 1.9% in the second quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock valued at $2,441,728,000 after buying an additional 778,791 shares during the period. Bank of New York Mellon Corp increased its position in Emerson Electric by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 14,552,526 shares of the industrial products company’s stock valued at $871,114,000 after buying an additional 332,238 shares during the period. Longview Partners Guernsey LTD increased its position in Emerson Electric by 4.4% in the second quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the industrial products company’s stock valued at $752,646,000 after buying an additional 526,712 shares during the period. Finally, Capital World Investors increased its position in Emerson Electric by 4.6% in the second quarter. Capital World Investors now owns 11,450,000 shares of the industrial products company’s stock valued at $682,649,000 after buying an additional 500,000 shares during the period. Hedge funds and other institutional investors own 69.42% of the company’s stock.
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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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