Emera (TSE:EMA) Stock Price Passes Above 200 Day Moving Average of $55.25

Emera Inc (TSE:EMA) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $55.25 and traded as high as $55.84. Emera shares last traded at $55.75, with a volume of 610,938 shares.

Several equities analysts have recently weighed in on EMA shares. Credit Suisse Group cut shares of Emera from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from C$64.00 to C$60.00 in a research note on Wednesday, July 22nd. Scotiabank raised their price target on shares of Emera from C$63.00 to C$64.00 in a research note on Wednesday, April 15th. CSFB cut shares of Emera from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from C$64.00 to C$60.00 in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. decreased their price target on shares of Emera from C$59.00 to C$57.00 in a research note on Thursday, July 23rd. Finally, CIBC increased their price objective on Emera from C$55.00 to C$58.00 in a report on Thursday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$61.42.

The company has a market cap of $13.64 billion and a price-to-earnings ratio of 15.49. The company has a debt-to-equity ratio of 175.04, a quick ratio of 0.62 and a current ratio of 0.84. The firm has a fifty day moving average price of C$54.08 and a 200 day moving average price of C$55.25.

Emera (TSE:EMA) last announced its quarterly earnings results on Wednesday, May 13th. The company reported C$0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.83 by C($0.04). The business had revenue of C$1.64 billion during the quarter, compared to analyst estimates of C$1.62 billion. On average, analysts expect that Emera Inc will post 3.0399999 EPS for the current fiscal year.

About Emera (TSE:EMA)

Emera Incorporated, an energy and services company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company is also involved in gas transmission and utility energy services businesses; and the provision of energy marketing, trading, and other energy asset management services.

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