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Emerson Electric’s Q2 Profit Rises, Beating View; Revenue Misses; Forecast Lowered (EMR)

By Dividend.com,  August 07, 2012, 08:41:45 AM EDT

Diversified electrical components maker Emerson Electric Co. ( EMR ) on Tuesday posted mixed second quarter earnings and lowered its full-year outlook, citing tepid business investment trends.

The St. Louis-based company reported second quarter net income of $770 million, or $1.04 per share, compared with $683 million, or 90 cents per share, in the year-ago period.

Revenue rose 3% from last year to $6.48 billion.

On average, Wall Street analysts expected a smaller profit of $1 per share, albeit on higher revenue of $6.61 billion.

Looking ahead, EMR said it now expects full-year earnings to range from $3.35 to $3.40 per share, down from a prior outlook of $3.35 to $3.50. Analysts are currently looking for $3.34 per share for the year.

Emerson Electric shares were mostly flat in premarket trading Tuesday.

The Bottom Line
Shares of Emerson Electric ( EMR ) have a 3.27% dividend yield, based on last night's closing stock price of $48.94. The stock has technical support in the $44-$46 price area. If the shares can firm up, we see overhead resistance around the $52-$53 price levels.

Emerson Electric Co. ( EMR ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: EMR



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