Emera (TSE:EMA) Stock Gets Price Target Reduction from Royal Bank Of Canada

Emera (TSE:EMA) had its price target reduced by investment analysts at Royal Bank Of Canada from C$84.00 to C$82.00 in a report issued on Monday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s target price indicates a potential upside of 14.06% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Raymond James Financial lifted their price objective 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. National Bank Financial boosted their target price on shares of Emera from C$74.00 to C$75.00 and gave the company a “sector perform” rating in a research note on Monday. JPMorgan Chase & Co. increased their target price on Emera from C$73.00 to C$79.00 in a report on Tuesday, July 21st. Scotiabank raised their target price on Emera from C$78.00 to C$80.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 21st. Finally, TD lowered their price target on Emera from C$79.00 to C$75.00 and set a “buy” rating on the stock in a report on Wednesday, October 7th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Emera presently has a consensus rating of “Moderate Buy” and a consensus price target of C$76.33.

Emera Trading Up 0.4%

Shares of EMA traded up C$0.30 during midday trading on Monday, hitting C$71.89. The stock had a trading volume of 322,381 shares, compared to its average volume of 1,343,351. The business has a 50-day simple moving average of C$68.25 and a two-hundred day simple moving average of C$71.11. The firm has a market cap of C$22.08 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 6.20 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.23 and a debt-to-equity ratio of 153.87. Emera has a fifty-two week low of C$64.62 and a fifty-two week high of C$77.99.

Emera (TSE:EMA) last released its quarterly earnings results on Friday, November 6th. The company reported C$0.85 earnings per share (EPS) for the quarter. The business had revenue of C$1.98 billion for the quarter. Emera had a net margin of 12.85% and a return on equity of 7.51%. As a group, equities analysts forecast that Emera will post 3.20 EPS for the current year.

About Emera

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.