Emera Inc (TSE:EMA) fell 3.7% during mid-day trading on Tuesday 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$39.92 and last traded at C$40.00. 690,158 shares traded hands during trading, a decline of 14% from the average session volume of 799,290 shares. The stock had previously closed at C$41.53.
EMA has been the subject of several other reports. TD Securities reduced their price target on Emera from C$53.00 to C$49.00 and set a “buy” rating for the company in a report on Tuesday. National Bank Financial reduced their price target on Emera from C$45.00 to C$43.00 in a report on Tuesday. BMO Capital Markets reduced their price target on Emera from C$54.00 to C$52.00 in a report on Tuesday, February 6th. Raymond James Financial upgraded Emera from a “market perform” rating to an “outperform” rating in a report on Friday, February 9th. Finally, Royal Bank of Canada reduced their price target on Emera from C$57.00 to C$50.00 and set an “outperform” rating for the company in a report on Tuesday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Emera currently has an average rating of “Buy” and an average price target of C$50.14.
In related news, Director Robert John Scott Hanf sold 20,775 shares of the business’s stock in a transaction that occurred 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 price-to-earnings ratio of 14.96 and a beta of -0.01.
Emera (TSE:EMA) last posted its earnings results on Tuesday, November 14th. The company reported C$0.55 earnings per share 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 company had revenue of C$1.43 billion during the quarter, compared to analyst estimates of C$1.55 billion.
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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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