Emerson Electric (NYSE:EMR) Updates Q3 2024 Earnings Guidance

Emerson Electric (NYSE:EMR) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.380-1.420 for the period, compared to the consensus estimate of 1.440. The company issued revenue guidance of $4.4 billion-$4.4 billion, compared to the consensus revenue estimate of $4.5 billion. Emerson Electric also updated its FY 2024 guidance to 5.400-5.500 EPS.

Analyst Ratings Changes

EMR has been the subject of several recent research reports. Berenberg Bank boosted their price objective on Emerson Electric from $100.00 to $130.00 and gave the company a buy rating in a report on Wednesday, March 6th. Mizuho boosted their price target on shares of Emerson Electric from $118.00 to $130.00 and gave the company a buy rating in a research note on Thursday, February 8th. Barclays lifted their price objective on shares of Emerson Electric from $95.00 to $105.00 and gave the company an equal weight rating in a report on Tuesday, April 2nd. KeyCorp upped their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Finally, Bank of America boosted their price objective on Emerson Electric from $120.00 to $130.00 and gave the stock a buy rating in a report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $118.07.

Emerson Electric Stock Performance

EMR traded up $3.97 during trading on Wednesday, hitting $111.37. 2,634,422 shares of the company traded hands, compared to its average volume of 2,780,580. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.29. The firm has a market cap of $63.57 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 1.84 and a beta of 1.36. Emerson Electric has a one year low of $76.94 and a one year high of $115.26. The stock’s fifty day moving average is $110.61 and its 200 day moving average is $99.95.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. Emerson Electric had a net margin of 69.33% and a return on equity of 11.59%. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. Emerson Electric’s revenue was up 22.1% on a year-over-year basis. As a group, equities analysts predict that Emerson Electric will post 5.4 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.89%. Emerson Electric’s payout ratio is 10.94%.

Insider Activity at Emerson Electric

In other Emerson Electric news, Director Mark A. Blinn sold 2,413 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $103.18, for a total transaction of $248,973.34. Following the completion of the transaction, the director now owns 9,591 shares in the company, valued at $989,599.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

About Emerson Electric

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.