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

Emerson Electric (NYSE:EMR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 5.400-5.500 for the period, compared to the consensus EPS estimate of 5.390. The company issued revenue guidance of $17.4 billion-$17.6 billion, compared to the consensus revenue estimate of $17.6 billion. Emerson Electric also updated its FY24 guidance to $5.40-$5.50 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EMR shares. Bank of America increased their price objective on Emerson Electric from $120.00 to $130.00 and gave the company a buy rating in a report on Monday, March 4th. Citigroup raised their price objective on shares of Emerson Electric from $120.00 to $133.00 and gave the stock a buy rating in a research report on Monday, April 8th. UBS Group increased their target price on shares of Emerson Electric from $95.00 to $120.00 and gave the stock a neutral rating in a research note on Thursday, March 21st. Royal Bank of Canada boosted their price target on Emerson Electric from $106.00 to $120.00 and gave the company an outperform rating in a research report on Thursday, February 8th. Finally, Barclays lifted their target price on Emerson Electric from $95.00 to $105.00 and gave the company an equal weight rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Emerson Electric currently has a consensus rating of Moderate Buy and a consensus target price of $118.07.

Emerson Electric Price Performance

Shares of EMR traded up $3.97 on Wednesday, reaching $111.37. The stock had a trading volume of 2,634,422 shares, compared to its average volume of 2,780,580. The firm has a 50-day moving average of $110.61 and a 200 day moving average of $99.95. The firm has a market capitalization of $63.57 billion, a PE ratio of 5.60, a PEG ratio of 1.84 and a beta of 1.36. Emerson Electric has a twelve month low of $76.94 and a twelve month high of $115.26. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.29.

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

Emerson Electric Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.89%. Emerson Electric’s dividend payout ratio (DPR) is 10.94%.

Insider Buying and Selling at Emerson Electric

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

Emerson Electric Company Profile

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.