Emera (EMA) Given New C$50.00 Price Target at Royal Bank of Canada

Emera (TSE:EMA) had its target price decreased by equities researchers at Royal Bank of Canada from C$57.00 to C$50.00 in a report released on Tuesday. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 25.22% from the stock’s previous close.

A number of other research firms also recently weighed in on EMA. National Bank Financial set a C$52.00 target price on shares of Emera and gave the stock a “sector perform” rating in a research report on Friday, December 29th. Raymond James Financial raised shares of Emera from a “market perform” rating to an “outperform” rating in a research report on Friday. BMO Capital Markets reduced their target price on shares of Emera from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a research report on Monday. TD Securities set a C$53.00 target price on shares of Emera and gave the stock a “buy” rating in a research report on Friday, December 29th. Finally, Scotiabank upped their target price on shares of Emera from C$50.00 to C$51.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Emera presently has a consensus rating of “Buy” and an average price target of C$50.31.

Emera (EMA) traded down C$1.60 during trading hours on Tuesday, hitting C$39.93. 1,808,969 shares of the stock were exchanged, compared to its average volume of 835,995. The stock has a market cap of $9,480.00, a P/E ratio of 15.05 and a beta of -0.01. Emera has a 12-month low of C$39.90 and a 12-month high of C$49.48.

Emera (TSE:EMA) last released its earnings results on Tuesday, November 14th. The company reported C$0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.74 by C($0.19). The business had revenue of C$1.43 billion during the quarter, compared to analysts’ expectations of C$1.55 billion. Emera had a return on equity of 5.43% and a net margin of 6.94%.

In related news, Director Robert John Scott Hanf sold 20,775 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of C$48.50, for a total transaction of C$1,007,587.50.

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Emera Company Profile

Emera Incorporated is an energy and services company, which invests in electricity generation, transmission and distribution, gas transmission and utility services. The Company operates through six segments: Emera Florida and New Mexico; Nova Scotia Power Inc (NSPI); Emera Maine; Emera Caribbean; Emera Energy, and Corporate and Other.

Analyst Recommendations for Emera (TSE:EMA)

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