On Friday, Shares of Emerson Electric Co (NYSE: EMR) gained 0.14% to $69.28. The stock opened its trade at $69.22 and after floating in a price range of $68.62 to $69.56; the stock grabbed the investor’s attention and traded 2.05M shares as compared to its average daily volume of 2.98M shares. The stock’s institutional ownership stands at 71.70%.
Emerson Electric Co. (EMR) stated fiscal second-quarter profit of $482.0M. The St. Louis-based company said it had net income of 76 cents per share. The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The maker of process controls systems, valves and analytical instruments posted revenue of $4.25B in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $4.20B.
EMR has a market value of $43.83B while its EPS was booked as $2.71 in the last 12 months. The stock has 632.60M shares outstanding. In the profitability analysis, the company has gross profit margin of 42.00% while net profit margin was 10.80%. Beta value of the company was 1.18; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.40.