These Analysts Revise Their Forecasts On Emerson Electric Following Q2 Results
Portfolio Pulse from Avi Kapoor
Emerson Electric Co (NYSE:EMR) reported Q2 FY24 results surpassing expectations with a 17% Y/Y net sales growth to $4.38 billion and adjusted EPS of $1.36. The company also declared a quarterly dividend of $0.525 per share. Following the results, Emerson revised its FY24 outlook positively and received mixed price target adjustments from Deutsche Bank, Baird, and Mizuho. Shares rose 4.9% to close at $112.65.
May 09, 2024 | 11:56 am
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Emerson Electric reported strong Q2 FY24 results, declared a quarterly dividend, and revised its FY24 outlook upwards. Analysts from Deutsche Bank, Baird, and Mizuho adjusted their price targets following the earnings announcement.
The positive earnings report and upward revision of the FY24 outlook, combined with the dividend declaration, are likely to instill investor confidence and could lead to a short-term positive impact on EMR's stock price. The mixed analyst ratings adjustments reflect a generally positive outlook but also suggest some caution, likely due to the slightly lower than expected Q3 EPS guidance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100