Emera (TSE:EMA) Given a C$74.00 Price Target by Desjardins Analysts

Key Points

• Desjardins set a C$74.00 price target for Emera and maintained a “hold” rating, implying approximately 7.87% upside from the reported C$68.60 share price.
• Analyst sentiment is generally positive: Emera has a consensus “Moderate Buy” rating from nine analysts, with six Buys and three Holds, and an average target price of C$76.25.
• Emera shares rose 0.1% to C$68.60 in midday trading. The company reported quarterly revenue of C$2.01 billion and earnings of C$0.69 per share, while analysts forecast full-year EPS of C$3.20.

Emera (TSE:EMA - Get Free Report) has been given a C$74.00 target price by research analysts at Desjardins in a research report issued on Tuesday, BayStreet reports. The brokerage presently has a "hold" rating on the stock. Desjardins's price target would suggest a potential upside of 7.87% from the company's current price.

EMA has been the topic of several other reports. National Bank Financial increased their price target on shares of Emera from C$73.00 to C$74.00 and gave the company a "sector perform" rating in a research report on Thursday, October 8th. BMO Capital Markets raised their price target on Emera from C$76.00 to C$80.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Raymond James Financial boosted their price target on Emera from C$75.25 to C$77.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Canadian Imperial Bank of Commerce reduced their price objective on Emera from C$76.00 to C$72.00 in a research report on Tuesday, September 22nd. Finally, Scotiabank upped their price objective on Emera from C$78.00 to C$80.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Emera presently has a consensus rating of "Moderate Buy" and an average target price of C$76.25.

Emera Stock Up 0.1%

EMA stock traded up C$0.05 during midday trading on Tuesday, reaching C$68.60. 1,321,221 shares of the company were exchanged, compared to its average volume of 1,305,493. The company has a debt-to-equity ratio of 153.87, a quick ratio of 0.23 and a current ratio of 0.73. The stock's 50-day simple moving average is C$68.32 and its 200 day simple moving average is C$71.01. The company has a market cap of C$20.98 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 6.20 and a beta of 0.42. Emera has a 1-year low of C$64.62 and a 1-year high of C$77.99.

Emera (TSE:EMA - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported C$0.69 EPS for the quarter. Emera had a return on equity of 7.51% and a net margin of 12.85%. The company had revenue of C$2.01 billion for the quarter. On average, equities analysts forecast that Emera will post 3.20 earnings per share 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.

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