Emerson Electric (NYSE:EMR) Posts Earnings Results, Beats Estimates By $0.01 EPS

Emerson Electric (NYSE:EMR) posted its quarterly earnings results on Wednesday. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01, Briefing.com reports. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 EPS. Emerson Electric updated its FY24 guidance to $5.45-5.50 EPS and its FY 2024 guidance to 5.450-5.500 EPS.

Emerson Electric Stock Performance

EMR stock traded down $0.92 during trading on Friday, hitting $103.69. 3,644,583 shares of the company’s stock traded hands, compared to its average volume of 2,688,658. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.28. Emerson Electric has a 52 week low of $83.10 and a 52 week high of $119.53. The stock has a fifty day moving average price of $110.58 and a two-hundred day moving average price of $109.13. The stock has a market capitalization of $59.32 billion, a price-to-earnings ratio of 5.55, a price-to-earnings-growth ratio of 1.93 and a beta of 1.32.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.525 per share. The ex-dividend date is Friday, August 16th. This represents a $2.10 annualized dividend and a yield of 2.03%. Emerson Electric’s payout ratio is 11.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Mizuho increased their price objective on shares of Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Loop Capital raised their price target on shares of Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 10th. Wells Fargo & Company dropped their price objective on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday. StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Oppenheimer dropped their price objective on shares of Emerson Electric from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.89.

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.