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Why Emerson Electric (EMR) Dipped More Than Broader Market Today
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Emerson Electric (EMR - Free Report) closed at $115.68 in the latest trading session, marking a -0.74% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.71%. Meanwhile, the Dow lost 0.93%, and the Nasdaq, a tech-heavy index, lost 0.81%.
Coming into today, shares of the maker of process controls systems, valves and analytical instruments had gained 7.77% in the past month. In that same time, the Industrial Products sector gained 2.91%, while the S&P 500 gained 1.08%.
The investment community will be closely monitoring the performance of Emerson Electric in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. On that day, Emerson Electric is projected to report earnings of $1.42 per share, which would represent year-over-year growth of 10.08%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.45 billion, indicating a 12.81% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.47 per share and a revenue of $17.58 billion, signifying shifts of +23.2% and +15.9%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Emerson Electric. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.07% higher. Emerson Electric is currently sporting a Zacks Rank of #2 (Buy).
With respect to valuation, Emerson Electric is currently being traded at a Forward P/E ratio of 21.29. For comparison, its industry has an average Forward P/E of 22.9, which means Emerson Electric is trading at a discount to the group.
One should further note that EMR currently holds a PEG ratio of 1.99. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Manufacturing - Electronics industry held an average PEG ratio of 2.02.
The Manufacturing - Electronics industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 41, placing it within the top 17% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why Emerson Electric (EMR) Dipped More Than Broader Market Today
Emerson Electric (EMR - Free Report) closed at $115.68 in the latest trading session, marking a -0.74% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.71%. Meanwhile, the Dow lost 0.93%, and the Nasdaq, a tech-heavy index, lost 0.81%.
Coming into today, shares of the maker of process controls systems, valves and analytical instruments had gained 7.77% in the past month. In that same time, the Industrial Products sector gained 2.91%, while the S&P 500 gained 1.08%.
The investment community will be closely monitoring the performance of Emerson Electric in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. On that day, Emerson Electric is projected to report earnings of $1.42 per share, which would represent year-over-year growth of 10.08%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.45 billion, indicating a 12.81% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.47 per share and a revenue of $17.58 billion, signifying shifts of +23.2% and +15.9%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Emerson Electric. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.07% higher. Emerson Electric is currently sporting a Zacks Rank of #2 (Buy).
With respect to valuation, Emerson Electric is currently being traded at a Forward P/E ratio of 21.29. For comparison, its industry has an average Forward P/E of 22.9, which means Emerson Electric is trading at a discount to the group.
One should further note that EMR currently holds a PEG ratio of 1.99. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Manufacturing - Electronics industry held an average PEG ratio of 2.02.
The Manufacturing - Electronics industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 41, placing it within the top 17% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.