Emerson Electric Company (EMR) Lowered to “Sell” at Zacks Investment Research
Emerson Electric Company (NYSE:EMR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “Prolonged softness in the oil and gas markets has affected both capital spending and operational expenditure of clients, thereby marring Emerson’s order rates in power generating alternators and electrical distribution businesses. Also, currency fluctuations and escalating restructuring charges also pose as concerns. Going forward, the company anticipates its Automation businesses to remain under pressure through the majority of fiscal 2017 as the global industrial downturn is lingering longer than expected. Moreover, stiff competition and escalating restructuring expenses may weigh on its financials in the near term. However, going forward, company is well positioned to benefit from the global infrastructure growth, as its core businesses hold dominant positions in markets tied to energy efficiency and infrastructure spending. Also, Emerson’s shares have outperformed the industry average over the past one year.”
Several other equities analysts have also recently commented on the stock. JMP Securities started coverage on shares of Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price target on shares of Emerson Electric in a research report on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Citigroup Inc. reaffirmed a “sell” rating and set a $61.00 price target (up previously from $58.00) on shares of Emerson Electric in a research report on Monday, October 9th. Finally, BidaskClub cut shares of Emerson Electric from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $62.17.
Emerson Electric (NYSE:EMR) traded up 1.94% during mid-day trading on Tuesday, hitting $65.69. The stock had a trading volume of 2,115,693 shares. Emerson Electric has a one year low of $49.38 and a one year high of $66.10. The company has a 50 day moving average price of $62.04 and a 200 day moving average price of $60.08. The stock has a market cap of $42.04 billion, a P/E ratio of 29.31 and a beta of 1.21.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter last year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities analysts anticipate that Emerson Electric will post $2.60 EPS for the current year.
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In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the sale, the insider now owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in EMR. Greatmark Investment Partners Inc. increased its stake in shares of Emerson Electric by 0.6% in the first quarter. Greatmark Investment Partners Inc. now owns 77,302 shares of the industrial products company’s stock valued at $4,627,000 after purchasing an additional 446 shares during the period. American Century Companies Inc. increased its stake in shares of Emerson Electric by 19.4% in the first quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock valued at $259,724,000 after purchasing an additional 705,924 shares during the period. Flinton Capital Management LLC increased its stake in shares of Emerson Electric by 23.2% in the first quarter. Flinton Capital Management LLC now owns 7,824 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 1,472 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Emerson Electric by 4.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 308,144 shares of the industrial products company’s stock valued at $18,470,000 after purchasing an additional 12,205 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of Emerson Electric by 391.7% in the first quarter. Daiwa Securities Group Inc. now owns 189,700 shares of the industrial products company’s stock valued at $11,355,000 after purchasing an additional 151,120 shares during the period. Institutional investors own 70.03% of the company’s stock.
Emerson Electric Company Profile
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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