Emerson Electric (NYSE:EMR) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Emerson Electric (NYSE:EMR) issued its quarterly earnings results on Wednesday. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01, Briefing.com reports. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.44 billion. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. Emerson Electric’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 earnings per share. 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 Price Performance

Shares of EMR traded down $0.92 during midday trading on Friday, reaching $103.69. The stock had a trading volume of 3,644,583 shares, compared to its average volume of 2,688,658. Emerson Electric has a 52 week low of $83.10 and a 52 week high of $119.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.18 and a quick ratio of 0.87. The firm’s 50 day moving average price is $110.58 and its 200-day moving average price is $109.13. The company has a market capitalization of $59.32 billion, a P/E ratio of 5.55, a P/E/G ratio of 1.93 and a beta of 1.32.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, August 16th. Emerson Electric’s dividend payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on EMR shares. Mizuho increased their price target on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Oppenheimer reduced their price target on Emerson Electric from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday. Robert W. Baird increased their price target on Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Barclays reduced their target price on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Emerson Electric presently has an average rating of “Moderate Buy” and an average target price of $123.89.

About Emerson Electric

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.