Company Update: Emerson Electric (NYSE:EMR) – Form 10 Registration Statement Filed in Connection With Emerson’s Planned Spinoff of Network Power

[Business Wire] – ST. LOUIS–(BUSINESSWIRE)– Emerson ( NYSE:EMR – News) today announced the filing of an initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC) in connection with the Company’s previously announced plan to spin off its Network Power business, which will be named Vertiv. The filing, which outlines Emerson’s intent to spin off 100 percent of the outstanding common stock of Vertiv through a tax-free distribution to shareholders, is an important step in a process expected to be substantially complete by September 30, 2016. “Today marks another step forward in a process we began in early 2015 focused on strengthening Emerson and preparing the Company to capitalize on future growth opportunities,” said Chairman and Chief Executive Officer David N. Farr. Read more on this. Emerson Electric Co. (EMR) , valued at $35.17B, started trading this morning at $53.87. A quick look at the market, the company’s stock traded between $53.79 and $54.90 with the price of the stock fluctuating between $41.25 to $62.75 over the last 52 weeks. EMR shares are currently priced at 17.63x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -9.51x forward p/e ratio. The company pays shareholders $1.90 per share in dividend income per year, for a current yield of 3.53%. In a review of the consensus earnings estimate this quarter, 25 sell-side analysts are looking at $0.63 per share, which would be $0.02 worse than the year-ago quarter and a $0.01 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.05 would be a $0.12 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.89 Billion. If reported, that would be a 9.44% decrease over the year-ago quarter. In terms of ratings, Standpoint Research downgraded EMR from Buy to Hold (Feb 29, 2016). Previously, Standpoint Research upgraded EMR from Hold to Buy. Investors should keep in mind is that the average price target is $49.33, which is 8.43% below where the stock opened this morning. See more in (NYSE:EMR) Similar Articles: Company Update: Emerson Electric (NYSE:EMR) – Emerson Announces Mike Train Will Lead Reshaped Automation Solutions Business Company Update: Emerson Electric (NYSE:EMR) – Emerson Declares Dividend Company Update: Emerson Electric (NYSE:EMR) – Emerson Network Power Report Identifies Four Emerging Data Center Models