Emera (TSE:EMA) Given a C$55.00 Price Target at Bank of America

Emera (TSE:EMA) has been assigned a C$55.00 price target by equities researchers at Bank of America in a research report issued on Friday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target would suggest a potential upside of 4.80% from the company’s current price.

Several other brokerages have also commented on EMA. CIBC decreased their target price on shares of Emera from C$51.00 to C$50.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. National Bankshares boosted their price objective on shares of Emera from C$49.00 to C$54.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. Scotiabank increased their target price on shares of Emera from C$52.00 to C$55.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their price target on shares of Emera from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their price target on Emera from C$45.00 to C$46.00 in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Emera currently has an average rating of “Hold” and a consensus target price of C$51.80.

Emera Price Performance

Shares of TSE:EMA opened at C$52.48 on Friday. Emera has a 52 week low of C$43.67 and a 52 week high of C$53.68. The company has a 50-day moving average price of C$50.04 and a 200 day moving average price of C$48.19. The company has a market cap of C$15.14 billion, a P/E ratio of 20.42, a PEG ratio of 2.77 and a beta of 0.34. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 155.62.

Emera (TSE:EMA) last issued its earnings results on Friday, August 9th. The company reported C$0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.56 by C($0.03). Emera had a return on equity of 6.60% and a net margin of 10.83%. The business had revenue of C$1.62 billion for the quarter, compared to analysts’ expectations of C$1.67 billion. Research analysts predict that Emera will post 3.1512915 earnings per share for the current year.

About Emera

Emera Incorporated, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.