Emera (EMA) Sets New 1-Year Low After Analyst Downgrade
Shares of Emera Inc (TSE:EMA) hit a new 52-week low during mid-day trading on Monday after Scotiabank lowered their price target on the stock from C$50.00 to C$48.00. Scotiabank currently has a sector perform rating on the stock. Emera traded as low as C$41.61 and last traded at C$41.92, with a volume of 909950 shares traded. The stock had previously closed at C$43.32.
EMA has been the topic of several other reports. National Bank Financial cut their target price on Emera from C$45.00 to C$43.00 in a report on Tuesday. TD Securities cut their target price on Emera from C$53.00 to C$49.00 and set a “buy” rating on the stock in a report on Tuesday. BMO Capital Markets cut their target price on Emera from C$54.00 to C$52.00 in a report on Tuesday, February 6th. Royal Bank of Canada cut their target price on Emera from C$57.00 to C$50.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Raymond James Financial upgraded Emera from a “market perform” rating to an “outperform” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of C$50.14.
In other news, Director Robert John Scott Hanf sold 20,775 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of C$48.50, for a total value of C$1,007,587.50.
Emera (TSE:EMA) last issued its quarterly earnings results on Tuesday, November 14th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.74 by C($0.19). The business had revenue of C$1.43 billion during the quarter, compared to analyst estimates of C$1.55 billion. Emera had a net margin of 6.94% and a return on equity of 5.43%.
Emera Incorporated is an energy and services company, which invests in electricity generation, transmission and distribution, gas transmission and utility services. The Company operates through six segments: Emera Florida and New Mexico; Nova Scotia Power Inc (NSPI); Emera Maine; Emera Caribbean; Emera Energy, and Corporate and Other.
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