Emerson Electric (NYSE:EMR – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 5.450-5.500 for the period, compared to the consensus EPS estimate of 5.470. The company issued revenue guidance of $17.4 billion-$17.4 billion, compared to the consensus revenue estimate of $17.6 billion. Emerson Electric also updated its FY24 guidance to $5.45-5.50 EPS.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on EMR. Loop Capital increased their target price on shares of Emerson Electric from $130.00 to $135.00 and gave the company a buy rating in a research note on Friday, May 10th. StockNews.com lowered shares of Emerson Electric from a buy rating to a hold rating in a research report on Thursday, July 25th. Wells Fargo & Company increased their price objective on shares of Emerson Electric from $133.00 to $137.00 and gave the company an overweight rating in a research report on Wednesday, June 26th. Barclays raised their price target on shares of Emerson Electric from $105.00 to $110.00 and gave the stock an equal weight rating in a research report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Emerson Electric from a hold rating to a buy rating and raised their price target for the stock from $123.00 to $138.00 in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $123.88.
Read Our Latest Stock Analysis on EMR
Emerson Electric Stock Performance
Emerson Electric (NYSE:EMR – Get Free Report) last released its earnings results on Wednesday, May 8th. The industrial products company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.25 by $0.11. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter last year, the business earned $1.09 EPS. The business’s revenue was up 16.5% on a year-over-year basis. Sell-side analysts anticipate that Emerson Electric will post 5.47 earnings per share for the current year.
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.
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