Oppenheimer Keeps Their Hold Rating on Emerson Electric Company


Oppenheimer analyst Christopher Glynn maintained a Hold rating on Emerson Electric Company (NYSE: EMR) today. The company’s shares opened today at $66.95.

Glynn noted:

“EMR delivered solid results and sounded a positive tone on extending visibility for Automation Solutions, suggesting FY19 could see stronger organic growth than the 8% forecast for the segment for FY18. MRO and small/medium project trends remain strong across O&G and petrochemical markets, while the large project pipeline is starting to materialize quickly, with EMR indicating large project orders could register strong orders numbers in coming months as greenfield project plans take hold. Sales and orders rose in the power business in FY1H in difficult end markets (impacted by renewables and energy efficiency trends). EMR plays more on the upgrade and retrofit controls side, including DCS/software and cybersecurity, apparently taking share in the aftermarket. V&C margins are expect to ramp well into year-end.”

According to TipRanks.com, Glynn is a 5-star analyst with an average return of 9.3% and a 61.2% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Honeywell International, Roper Technologies, and Eaton Corporation.

Currently, the analyst consensus on Emerson Electric Company is Moderate Buy and the average price target is $76.14, representing a 13.7% upside.

In a report issued on April 24, Berenberg Bank also upgraded the stock to Hold with a $69 price target.

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Based on Emerson Electric Company’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $4.25 billion and quarterly net profit of $482 million. In comparison, last year the company earned revenue of $3.57 billion and had a net profit of $278 million.

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Emerson Electric Co. engages in the provision of measurement and analytical instrumentation; industrial valves and equipment; process control systems, and tools and appliance solutions for customers in a range of industrial, commercial, and consumer markets. It operates through the following segments: Automation Solutions, Climate Technologies, and Tools and Home Products. The Automation Solutions segment offers products; software and technology; and engineering, project management, consulting services and integrated manufacturing solutions for precision measurement, control, monitoring, asset optimization, and safety and reliability of oil and gas reservoirs, manufacturing operations, and plants that process or treat various items. The The Climate Technologies segment provides products and services for many areas of the climate control industry, including residential heating and cooling, commercial air conditioning, and commercial and industrial refrigeration. The Tools and Home Products segment sells tools for professionals and homeowners; and appliance solutions. The company was founded by Charles Meston and Alexander Meston on September 24, 1890 and is headquartered in St. Louis, MO.

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