Emerson Electric Co. (NYSE:EMR) announced a quarterly dividend on Tuesday, May 7th, RTT News reports. Investors of record on Friday, May 17th will be given a dividend of 0.49 per share by the industrial products company on Monday, June 10th. This represents a $1.96 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, May 16th.
Emerson Electric has increased its dividend payment by an average of 1.0% per year over the last three years and has raised its dividend annually for the last 62 consecutive years. Emerson Electric has a payout ratio of 61.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Emerson Electric to earn $4.07 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 48.2%.
NYSE:EMR opened at $65.15 on Wednesday. Emerson Electric has a fifty-two week low of $55.38 and a fifty-two week high of $79.70. The firm has a market cap of $39.73 billion, a P/E ratio of 19.28, a P/E/G ratio of 2.06 and a beta of 1.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.76 and a current ratio of 1.07.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.84 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. Emerson Electric had a return on equity of 24.63% and a net margin of 12.81%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the firm posted $0.76 EPS. Emerson Electric’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts forecast that Emerson Electric will post 3.66 EPS for the current year.
Several equities analysts have commented on the company. Cowen reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Emerson Electric in a research report on Wednesday, January 30th. Zacks Investment Research raised Emerson Electric from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Tuesday, April 2nd. Morgan Stanley set a $77.00 price objective on Emerson Electric and gave the company a “buy” rating in a research report on Friday, February 8th. Credit Suisse Group upped their price objective on Emerson Electric from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 6th. Finally, Citigroup raised Emerson Electric from a “neutral” rating to a “buy” rating and upped their price objective for the company from $67.00 to $81.00 in a research report on Monday, April 8th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Emerson Electric presently has an average rating of “Buy” and a consensus target price of $76.41.
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About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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