Emerson Electric Posts Strong Q3 Sales Growth, Updates 2024 Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 07 2024
0mins
Should l Buy EMR?
Source: Benzinga
Financial Performance: Emerson Electric Co reported a third-quarter FY24 net sales growth of 11% year-over-year to $4.38 billion, surpassing expectations, with adjusted EPS improving by 11% to $1.43. The company also declared a quarterly cash dividend of $0.525 per share.
Future Outlook: Emerson revised its FY24 net sales growth outlook to approximately 15%, with underlying sales growth expected at around 6%. The company plans to allocate about $300 million for share repurchases and $1.2 billion for dividends in the upcoming fiscal year.
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Analyst Views on EMR
Wall Street analysts forecast EMR stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for EMR is 150.46 USD with a low forecast of 125.00 USD and a high forecast of 170.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
7 Buy
6 Hold
1 Sell
Moderate Buy
Current: 150.940
Low
125.00
Averages
150.46
High
170.00
Current: 150.940
Low
125.00
Averages
150.46
High
170.00
About EMR
Emerson Electric Co. is a global technology and software company that provides solutions for customers in a wide range of end markets around the world. The Company operates through seven segments under two business groups, such as Intelligent Devices and Software and Control. Its Intelligent Devices business includes Final Control, Measurement & Analytical, Discrete Automation, and Safety & Productivity. Software and Control business includes Control Systems & Software, Test & Measurement, and AspenTech. Its Final Control segment is a global provider of control valves, isolation valves, shutoff valves, pressure relief valves, pressure safety valves, actuators, and regulators for process and hybrid industries. Its Measurement & Analytical segment is a supplier of intelligent instrumentation measuring the physical properties of liquids or gases. AspenTech segment provides asset optimization software that enables industrial manufacturers to design, operate and maintain their operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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