Global technology and engineering conglomerate Emerson Electric's quarterly profit growth rate ranged up to 56% over the past year amid rising sales, which are approaching $17 billion this year. On Thursday the Relative Strength (RS) Rating for highly ranked Emerson Electric stock headed into a higher percentile, as it got a lift from 68 to 73.
The upgraded 73 RS Rating shows that Emerson topped 73% of all other stocks this past year for price performance.
Emerson Electric Stock Among Top 6%
Among its other key ratings, St. Louis-based Emerson Electric has a top-notch 94 Composite Rating out of 99. Additionally, its 92 Earnings Per Share Rating puts it in the top 8% of all companies for recent and long-term profit growth. It boasts a best-possible A SMR Rating (sales + profit margin +return on equity), reflecting strong fundamentals.
Can You Really Time The Stock Market?
Emerson Electric stock rose 52% from a 76.94 intraday low on May 31, 2023 to a 116.76 close on May 10 this year. It's consolidated lately and traded at about 108 Thursday afternoon. Emerson is working on a flat base with the 116.76 buy point. See if it can clear the breakout price in volume at least 40% above average.
The company recorded 25% earnings growth to $1.25 per share in its most recent report, while sales grew 17% to $4.38 billion. The prior three stanzas its EPS grew 40%, 21% and 56%. During that time period its revenue rose 14%, 5% then 22%.
One Of The Top five In Its Industry Group
Emerson Electric stock earns the No. 3 rank among its peers in the 22-stock Diversified Operations industry group. Carlisle is the top-ranked stock in the group.
IBD's unique RS Rating measures technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History shows that the best stocks tend to have an RS Rating above 80 as they launch their biggest price moves. See if Emerson Electric can continue to show renewed price strength and hit that benchmark.
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