Emera (TSE:EMA) Given New C$82.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered its Emera price target from C$84 to C$82 but maintained an “outperform” rating; the new target implies 14.06% upside from the current price.
• Analyst sentiment remains positive overall: six analysts rate the stock Buy and three Hold, giving Emera a “Moderate Buy” consensus and an average target of C$76.33.
• Emera reported quarterly earnings of C$0.85 per share on C$1.98 billion in revenue. Shares traded at C$71.89 on Monday.

Emera (TSE:EMA - Get Free Report) had its price objective lowered by Royal Bank Of Canada from C$84.00 to C$82.00 in a research report issued on Monday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 14.06% from the company's current price.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Emera from C$73.00 to C$79.00 in a research note on Tuesday, July 21st. Barclays cut their target price on Emera from C$74.00 to C$71.00 in a research report on Monday, August 10th. Desjardins increased their price target on Emera from C$74.00 to C$76.00 and gave the company a "hold" rating in a research note on Monday. Canadian Imperial Bank of Commerce lowered their price target on Emera from C$76.00 to C$72.00 in a research report on Tuesday, September 22nd. Finally, TD dropped their price objective on Emera from C$79.00 to C$75.00 and set a "buy" rating on the stock in a research note on Wednesday, October 7th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$76.33.

Emera Price Performance

EMA traded up C$0.30 on Monday, reaching C$71.89. The company had a trading volume of 322,381 shares, compared to its average volume of 1,343,351. The company has a market capitalization of C$22.08 billion, a P/E ratio of 22.82, a PEG ratio of 6.20 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.23 and a debt-to-equity ratio of 153.87. The company has a fifty day moving average of C$68.25 and a 200-day moving average of C$71.11. Emera has a one year low of C$64.62 and a one year high of C$77.99.

Emera (TSE:EMA - Get Free Report) last released its quarterly earnings results on Friday, November 6th. The company reported C$0.85 EPS for the quarter. The company had revenue of C$1.98 billion for the quarter. Emera had a net margin of 12.85% and a return on equity of 7.51%. As a group, equities research analysts anticipate 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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