Emerson Electric’s (EMR) “Buy” Rating Reaffirmed at Stifel Nicolaus
Emerson Electric Company (NYSE:EMR)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a report issued on Wednesday. They currently have a $68.00 price objective on the industrial products company’s stock. Stifel Nicolaus’ target price points to a potential upside of 13.66% from the company’s current price.
A number of other analysts have also recently weighed in on the stock. Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. JMP Securities assumed coverage on shares of Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 target price for the company. BidaskClub upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Royal Bank Of Canada restated a “hold” rating and set a $62.00 target price on shares of Emerson Electric in a report on Tuesday, June 6th. Finally, TheStreet upgraded shares of Emerson Electric from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Emerson Electric currently has a consensus rating of “Hold” and an average price target of $56.96.
Shares of Emerson Electric (EMR) traded up 0.6687% on Wednesday, hitting $60.2301. The company had a trading volume of 413,975 shares. The stock has a market cap of $38.82 billion, a PE ratio of 25.7284 and a beta of 1.20. The company has a 50-day moving average of $59.60 and a 200 day moving average of $59.52. Emerson Electric has a 12 month low of $49.22 and a 12 month high of $64.37.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, May 2nd. The industrial products company reported $0.58 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.58. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Emerson Electric had a net margin of 8.72% and a return on equity of 23.37%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. Analysts anticipate that Emerson Electric will post $2.60 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Seven Eight Capital LP purchased a new position in Emerson Electric during the fourth quarter worth about $234,000. Ancora Advisors LLC purchased a new position in Emerson Electric during the fourth quarter worth about $158,000. Guggenheim Capital LLC raised its position in Emerson Electric by 3.9% in the fourth quarter. Guggenheim Capital LLC now owns 880,473 shares of the industrial products company’s stock worth $49,087,000 after buying an additional 33,427 shares during the last quarter. HCR Wealth Advisors purchased a new position in Emerson Electric during the fourth quarter worth about $1,120,000. Finally, Congress Asset Management Co. MA purchased a new position in Emerson Electric during the fourth quarter worth about $201,000. Institutional investors and hedge funds own 68.87% of the company’s stock.
About Emerson Electric
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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