Emera (TSE:EMA) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised its price target on Emera to C$74 (from C$73), implying about a 1.54% upside, and several other firms also lifted targets — the consensus rating is Moderate Buy with a consensus price target of C$73.39.
• Emera traded at C$72.88 (down 0.9%) and is near its 12‑month high of C$73.86, with a market cap of C$21.99 billion and a P/E of 21.56, though its debt‑to‑equity ratio is elevated at 161.69.
• In the latest quarter Emera reported C$0.55 earnings per share on C$2.01 billion of revenue, and analysts forecast roughly C$3.20 EPS for the current year.

Emera (TSE:EMA - Get Free Report) had its price objective raised by investment analysts at Bank of America from C$73.00 to C$74.00 in a report issued on Wednesday,BayStreet.CA reports. Bank of America's target price would indicate a potential upside of 1.54% from the company's previous close.

A number of other research firms have also recently weighed in on EMA. BMO Capital Markets increased their price target on Emera from C$72.00 to C$74.00 and gave the company an "outperform" rating in a research note on Tuesday, February 24th. Raymond James Financial boosted their target price on Emera from C$73.00 to C$74.50 and gave the stock an "outperform" rating in a research note on Tuesday, February 24th. Scotiabank lifted their price objective on Emera from C$72.00 to C$78.00 in a research note on Tuesday, December 16th. TD Securities boosted their price objective on Emera from C$74.00 to C$75.00 and gave the company a "buy" rating in a report on Tuesday, February 24th. Finally, National Bank Financial lifted their target price on Emera from C$67.00 to C$68.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 24th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$73.39.

Emera Stock Down 0.9%

TSE:EMA traded down C$0.68 during trading hours on Wednesday, reaching C$72.88. 423,257 shares of the stock were exchanged, compared to its average volume of 1,301,346. Emera has a twelve month low of C$56.59 and a twelve month high of C$73.86. The company has a debt-to-equity ratio of 161.69, a current ratio of 0.66 and a quick ratio of 0.23. The firm has a 50 day moving average of C$70.42 and a 200 day moving average of C$68.41. The stock has a market cap of C$21.99 billion, a PE ratio of 21.56, a PEG ratio of 6.20 and a beta of 0.54.

Emera (TSE:EMA - Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported C$0.55 earnings per share for the quarter. Emera had a return on equity of 8.11% and a net margin of 13.11%.The firm had revenue of C$2.01 billion during the quarter. On average, equities analysts expect that Emera will post 3.1991627 earnings per share for the current year.

About Emera

Emera is a geographically diverse energy and services company investing in electricity generation, transmission, and distribution as well as gas transmission and utility energy services. Emera has operations throughout North America and the Caribbean countries.

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