Emera (EMA) Sets New 52-Week Low on Analyst Downgrade

Emera Inc (TSE:EMA) reached a new 52-week low 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.

Several other equities research analysts have also weighed in on EMA. TD Securities set a C$53.00 price objective on Emera and gave the stock a “buy” rating in a research note on Friday, December 29th. National Bank Financial set a C$52.00 price objective on Emera and gave the stock a “sector perform” rating in a research note on Friday, December 29th. BMO Capital Markets reduced their price objective on Emera from C$54.00 to C$52.00 in a research note on Tuesday, February 6th. Raymond James Financial raised Emera from a “market perform” rating to an “outperform” rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada reduced their price objective on Emera from C$57.00 to C$50.00 and set an “outperform” rating for the company in a research note on Tuesday. Two equities research 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 target price of C$50.14.

In other news, Director Robert John Scott Hanf sold 20,775 shares of the firm’s stock in a transaction on 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.

The company has a market cap of $9,110.00, a PE ratio of 14.96 and a beta of -0.01.

Emera (TSE:EMA) last announced its quarterly earnings data 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). Emera had a return on equity of 5.43% and a net margin of 6.94%. The firm had revenue of C$1.43 billion for the quarter, compared to analysts’ expectations of C$1.55 billion.

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Emera Company Profile

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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