Analysts Are Downgrading These 5 Stocks

4. Emerson Electric Co. (NYSE:EMR)

Number of Hedge Fund Holders: 48

Argus downgraded Emerson Electric Co. (NYSE:EMR) from “Buy” to “Hold” on Tuesday, February 14. The research firm referred to the near-term headwinds besides pointing towards the latest earnings miss.

Emerson Electric Co. (NYSE:EMR) last week announced disappointing financial performance for its fiscal first quarter. The industrial conglomerate earned 78 cents per share on an adjusted basis, missing the consensus of 87 cents. In addition, the quarterly sales of $3.37 billion also fell below the expectations of $3.43 billion.

The company primarily took a hit from supply-chain hurdles and semiconductor shortage. These factors didn’t let Emerson Electric Co. (NYSE:EMR) fully capitalize on the solid demand for automation.

Nevertheless, Emerson Electric Co. (NYSE:EMR) raised its 2023 sales growth outlook to a range of 8 – 10 percent, compared to its previous growth projection between 7 – 9 percent.

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