Canadian Imperial Bank of Commerce Lowers Emera (TSE:EMA) Price Target to C$72.00

Emera (TSE:EMA) had its target price lowered by equities research analysts at Canadian Imperial Bank of Commerce from C$76.00 to C$72.00 in a note issued to investors on Tuesday, BayStreet reports. Canadian Imperial Bank of Commerce’s target price indicates a potential upside of 4.94% from the stock’s current price.

A number of other research analysts have also recently issued reports on EMA. National Bank Financial lifted their target price on shares of Emera from C$69.00 to C$75.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Scotiabank raised their price target on Emera from C$78.00 to C$80.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price objective on Emera from C$73.00 to C$79.00 in a research report on Tuesday, July 21st. BMO Capital Markets increased their target price on Emera from C$76.00 to C$80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Finally, Raymond James Financial upped their price target on shares of Emera from C$75.25 to C$77.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$76.67.

Emera Price Performance

Emera stock traded up C$0.18 during mid-day trading on Tuesday, hitting C$68.61. 255,546 shares of the company were exchanged, compared to its average volume of 1,207,180. The company has a market capitalization of C$20.99 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 6.20 and a beta of 0.47. The business has a fifty day moving average of C$71.93 and a 200 day moving average of C$72.41. Emera has a 1-year low of C$63.93 and a 1-year high of C$77.99. The company has a quick ratio of 0.23, a current ratio of 0.73 and a debt-to-equity ratio of 153.87.

Emera (TSE:EMA) last posted its earnings results on Friday, August 7th. The company reported C$0.69 earnings per share for the quarter. The business had revenue of C$2.01 billion for the quarter. Emera had a net margin of 12.85% and a return on equity of 7.51%. As a group, sell-side analysts expect that Emera will post 3.1991627 earnings per share for the current year.

Emera Company Profile

Emera (TSX/NYSE: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.