Scotiabank Weighs in on Emera’s FY2024 Earnings (TSE:EMA)

Emera Incorporated (TSE:EMA) – Investment analysts at Scotiabank increased their FY2024 earnings estimates for Emera in a report issued on Wednesday, January 8th. Scotiabank analyst A. Weisel now expects that the company will earn $2.86 per share for the year, up from their prior estimate of $2.83. The consensus estimate for Emera’s current full-year earnings is $3.20 per share. Scotiabank also issued estimates for Emera’s FY2025 earnings at $3.23 EPS and FY2026 earnings at $3.38 EPS.

A number of other analysts have also recently weighed in on EMA. Wells Fargo & Company raised their price target on Emera from C$51.00 to C$56.00 in a research note on Monday, December 9th. Cibc World Mkts raised Emera from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Royal Bank of Canada upped their price target on Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. National Bankshares raised their price objective on shares of Emera from C$54.00 to C$55.00 in a report on Thursday, December 5th. Finally, CIBC upgraded shares of Emera from a “neutral” rating to an “outperform” rating and upped their target price for the company from C$54.00 to C$58.00 in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$57.10.

Emera Price Performance

Shares of EMA opened at C$52.96 on Friday. The firm has a market capitalization of C$15.27 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 6.20 and a beta of 0.35. The firm’s fifty day simple moving average is C$52.95 and its 200-day simple moving average is C$50.85. Emera has a twelve month low of C$44.13 and a twelve month high of C$56.20. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 155.62.

Emera Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were given a $0.725 dividend. This represents a $2.90 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend was Friday, November 1st. Emera’s dividend payout ratio (DPR) is presently 112.84%.

About Emera

Emera Incorporated, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.