Q1 2019 EPS Estimates for Emerson Electric Co. Reduced by Oppenheimer (EMR)
Emerson Electric Co. (NYSE:EMR) – Investment analysts at Oppenheimer dropped their Q1 2019 earnings per share estimates for Emerson Electric in a research report issued to clients and investors on Tuesday, November 6th. Oppenheimer analyst C. Glynn now forecasts that the industrial products company will post earnings per share of $0.65 for the quarter, down from their prior forecast of $0.69. Oppenheimer also issued estimates for Emerson Electric’s Q2 2019 earnings at $0.86 EPS, Q3 2019 earnings at $1.03 EPS, Q4 2019 earnings at $1.11 EPS and FY2020 earnings at $4.10 EPS.
A number of other research firms have also recently weighed in on EMR. Bank of America upped their price target on Emerson Electric from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, October 4th. Cowen restated a “buy” rating and issued a $81.00 price target on shares of Emerson Electric in a report on Wednesday, September 19th. Zacks Investment Research upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Thursday, October 4th. Barclays upped their target price on Emerson Electric from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 24th. Finally, UBS Group upped their target price on Emerson Electric from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. Emerson Electric presently has a consensus rating of “Buy” and a consensus price target of $78.30.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.91 billion. Emerson Electric had a return on equity of 23.06% and a net margin of 12.65%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the stock. First PREMIER Bank increased its holdings in Emerson Electric by 1.9% in the 3rd quarter. First PREMIER Bank now owns 36,665 shares of the industrial products company’s stock valued at $2,807,000 after purchasing an additional 684 shares in the last quarter. Windward Capital Management Co. CA increased its holdings in Emerson Electric by 2.3% in the 3rd quarter. Windward Capital Management Co. CA now owns 31,021 shares of the industrial products company’s stock valued at $2,376,000 after purchasing an additional 688 shares in the last quarter. Courier Capital LLC increased its holdings in Emerson Electric by 3.3% in the 2nd quarter. Courier Capital LLC now owns 22,555 shares of the industrial products company’s stock valued at $1,559,000 after purchasing an additional 718 shares in the last quarter. Truvestments Capital LLC increased its holdings in Emerson Electric by 6.4% in the 3rd quarter. Truvestments Capital LLC now owns 12,013 shares of the industrial products company’s stock valued at $920,000 after purchasing an additional 726 shares in the last quarter. Finally, Orca Investment Management LLC increased its holdings in Emerson Electric by 15.3% in the 2nd quarter. Orca Investment Management LLC now owns 5,502 shares of the industrial products company’s stock valued at $380,000 after purchasing an additional 732 shares in the last quarter. 70.33% of the stock is currently owned by institutional investors and hedge funds.
In related news, President Edward L. Monser sold 60,000 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $76.10, for a total value of $4,566,000.00. Following the transaction, the president now directly owns 176,477 shares of the company’s stock, valued at approximately $13,429,899.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Steven J. Pelch sold 6,409 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $74.24, for a total value of $475,804.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,409 shares of company stock worth $7,317,004. Corporate insiders own 0.79% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Thursday, November 15th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.49. Emerson Electric’s dividend payout ratio is currently 57.40%.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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