Emerson Electric (NYSE:EMR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $77.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.82% from the stock’s current price.
According to Zacks, “Emerson has a decent earnings surprise history, with two earnings beats and two in-line earnings in the trailing four quarters. Notably, Emerson’s shares have outpaced the industry in the past six months.Going forward, company is well positioned to benefit from the global infrastructure growth, as its core businesses hold dominant positions in markets tied to energy efficiency and infrastructure spending. The company’s aggressive restructuring actions and strategic divestures look successful. Thriving HVAC and refrigeration business, strength in United States & Asia and high infrastructure spending is expected to drive growth ahead. Despite these positives, prolonged softness in the oil and gas markets, has affected both capital spending and operational expenditure of clients. Moreover, stiff competition and escalating restructuring expenses may weigh on its financials.”
EMR has been the subject of several other reports. JMP Securities lowered Emerson Electric from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $74.45 to $56.77 in a research note on Thursday, February 1st. Robert W. Baird boosted their price objective on Emerson Electric from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. UBS assumed coverage on Emerson Electric in a research note on Monday, January 22nd. They set a “buy” rating and a $73.26 price objective for the company. Wells Fargo reiterated a “market perform” rating and set a $73.00 price objective (up from $65.00) on shares of Emerson Electric in a research note on Thursday, January 18th. Finally, Royal Bank of Canada upgraded Emerson Electric from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $70.38 to $80.00 in a research note on Tuesday, February 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.65.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Emerson Electric had a return on equity of 20.73% and a net margin of 10.09%. The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business earned $0.49 EPS. Emerson Electric’s quarterly revenue was up 18.7% on a year-over-year basis. equities research analysts forecast that Emerson Electric will post 3.12 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. Norris Perne & French LLP MI boosted its holdings in shares of Emerson Electric by 0.9% during the 4th quarter. Norris Perne & French LLP MI now owns 85,190 shares of the industrial products company’s stock worth $5,937,000 after purchasing an additional 722 shares during the last quarter. Hallmark Capital Management Inc. lifted its holdings in Emerson Electric by 2.1% in the fourth quarter. Hallmark Capital Management Inc. now owns 35,674 shares of the industrial products company’s stock valued at $2,486,000 after acquiring an additional 743 shares during the last quarter. Murphy Capital Management Inc. lifted its holdings in Emerson Electric by 5.0% in the fourth quarter. Murphy Capital Management Inc. now owns 15,897 shares of the industrial products company’s stock valued at $1,107,000 after acquiring an additional 750 shares during the last quarter. Capital City Trust Co. FL lifted its holdings in Emerson Electric by 4.9% in the fourth quarter. Capital City Trust Co. FL now owns 16,709 shares of the industrial products company’s stock valued at $1,050,000 after acquiring an additional 783 shares during the last quarter. Finally, Seaward Management Limited Partnership lifted its holdings in Emerson Electric by 0.3% in the fourth quarter. Seaward Management Limited Partnership now owns 279,762 shares of the industrial products company’s stock valued at $19,496,000 after acquiring an additional 818 shares during the last quarter. Institutional investors and hedge funds own 69.97% of the company’s stock.
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Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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