Emerson Electric (NYSE:EMR) Releases FY24 Earnings Guidance

Emerson Electric (NYSE:EMR) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $5.40-$5.50 for the period, compared to the consensus earnings per share estimate of $5.39. The company issued revenue guidance of $17.44-$17.59 billion, compared to the consensus revenue estimate of $17.60 billion. Emerson Electric also updated its FY 2024 guidance to 5.400-5.500 EPS.

Emerson Electric Stock Up 3.3 %

EMR stock traded up $3.52 during midday trading on Wednesday, reaching $110.92. 3,002,552 shares of the company’s stock traded hands, compared to its average volume of 2,785,402. The company has a market cap of $63.31 billion, a price-to-earnings ratio of 5.60, a P/E/G ratio of 1.84 and a beta of 1.36. The firm’s fifty day moving average price is $110.61 and its 200-day moving average price is $99.95. Emerson Electric has a 52 week low of $76.94 and a 52 week 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 announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.18. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Emerson Electric had a net margin of 69.33% and a return on equity of 11.59%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 EPS. As a group, sell-side analysts forecast that Emerson Electric will post 5.4 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.89%. Emerson Electric’s payout ratio is 10.94%.

Wall Street Analyst Weigh In

EMR has been the topic of several recent analyst reports. Barclays raised their price objective 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. Mizuho upped their price objective on shares of Emerson Electric from $118.00 to $130.00 and gave the stock a buy rating in a research report on Thursday, February 8th. Citigroup lifted their target price 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. Berenberg Bank increased their price target on Emerson Electric from $100.00 to $130.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada boosted their price objective on Emerson Electric from $106.00 to $120.00 and gave the stock an outperform rating in a research report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $118.07.

Insiders Place Their Bets

In other Emerson Electric news, Director Mark A. Blinn sold 2,413 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $103.18, for a total value of $248,973.34. Following the completion of the sale, the director now owns 9,591 shares in the company, valued at $989,599.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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.