These Analysts Lower Their Forecasts On Emerson Electric After Weak Sales
Portfolio Pulse from Avi Kapoor
Emerson Electric Co (NYSE:EMR) reported weaker-than-expected sales for its third quarter, leading to a 7.7% drop in share price. Despite beating consensus estimates for net sales and adjusted EPS, the company revised its FY24 outlook slightly downward. Analysts from Oppenheimer and Wells Fargo lowered their price targets for the stock.
August 08, 2024 | 1:19 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Emerson Electric reported weaker-than-expected Q3 sales, leading to a 7.7% drop in share price. Despite beating consensus estimates for net sales and adjusted EPS, the company revised its FY24 outlook slightly downward. Analysts from Oppenheimer and Wells Fargo lowered their price targets.
The weaker-than-expected sales report and the subsequent downward revision of the FY24 outlook have negatively impacted investor sentiment, leading to a significant drop in share price. Additionally, the lowered price targets from analysts further contribute to the negative short-term outlook for the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100