Emerson Electric

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We upgrade our recommendation on EMR shares to Buy from Hold ahead of earnings given our view that shares are currently undervalued. Additionally, we view EMR’s portfolio transformation positively and see it enhancing the company’s long-term growth trajectory. EMR has been exiting lower growth businesses and dialing in its focus on building out a cohesive automation portfolio that is aligned with several secular investment drivers, including factory nearshoring, energy security, decarbonization, and digitalization. Favorable pricing, easing supply chain constraints, and improving backlog conversion should back results in the coming quarters, in our view. We adjust our 12-month target to $114 from $102 following an updated outlook for FY 2024 results, 21.4x our 2024 EPS estimate of $5.33 (up from $4.75). We see upside in shares currently, with […]

Emerson Electric (NYSE:EMR)  Sees 2023 Net Sales Growth Of ~10.5% (Prior 9%-10.5%) Adjusted EPS $4.40-$4.45 (Prior $4.15-$4.25), Est $4.21.

Emerson Electric (NYSE:EMR) reported quarterly earnings of $0.78 per share which missed the analyst consensus estimate of $1.21 by 35.54 percent. This is a 25.71 percent decrease over earnings of $1.05 per share from the same period last year. The company reported quarterly sales of $3.37 billion which missed the analyst consensus estimate of $4.75 billion by 28.99 percent. This is a 24.59 percent decrease over sales of $4.47 billion the same period last year.