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Emerson (EMR) to Divest Daniel Measurement Unit to Turnspire
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Emerson Electric Co. (EMR - Free Report) yesterday announced that it has entered into a deal with Turnspire Capital Partners to sell its Daniel Measurement and Control business. The divestment deal does not incorporate Daniel’s fiscal transfer system and ultrasonic flowmeter units.
The company’s shares gained 1% yesterday to eventually close the trading session at $98.61.
Based in New York, Turnspire Capital Partners is an investment management company involved in investing in businesses from various industries.
Inside the Headlines
Emerson’s Daniel Measurement and Control business is engaged in offering flow and energy measurement technologies and services to the natural gas and hydrocarbon industries. Some of the products offered by the business are orifice plates and plate seals, venturi tubes, orifice meter tubes and profiler flow conditioner.
The divestment is in sync with Emerson’s strategy of restructuring its business portfolio and concentrating more on core businesses. This will allow the company to efficiently direct resources to data-rich, software-enabled technologies in diverse and growing end markets.
The transaction is anticipated to get completed in fiscal 2021 (ending September 2021).
Zacks Rank, Price Performance and Estimate Trend
The company with a market capitalization of $59.1 billion, currently carries a Zacks Rank #3 (Hold). It is likely to benefit from strength across its medical, life science, food and beverage, and residential end markets. Also, it is likely to gain from acquisitions it made over time. However, escalating costs and expenses are a major concern for the company.
In the past three months, the company’s stock has gained 8.8% compared with the industry’s growth of 6.9%.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Emerson’s earnings is pegged at $3.93 for fiscal 2021 and $4.33 for fiscal 2022 (ending September 2022), reflecting growth of 2.1% and 1.2%, respectively, from the 60-day-ago figures.
Image: Bigstock
Emerson (EMR) to Divest Daniel Measurement Unit to Turnspire
Emerson Electric Co. (EMR - Free Report) yesterday announced that it has entered into a deal with Turnspire Capital Partners to sell its Daniel Measurement and Control business. The divestment deal does not incorporate Daniel’s fiscal transfer system and ultrasonic flowmeter units.
The company’s shares gained 1% yesterday to eventually close the trading session at $98.61.
Based in New York, Turnspire Capital Partners is an investment management company involved in investing in businesses from various industries.
Inside the Headlines
Emerson’s Daniel Measurement and Control business is engaged in offering flow and energy measurement technologies and services to the natural gas and hydrocarbon industries. Some of the products offered by the business are orifice plates and plate seals, venturi tubes, orifice meter tubes and profiler flow conditioner.
The divestment is in sync with Emerson’s strategy of restructuring its business portfolio and concentrating more on core businesses. This will allow the company to efficiently direct resources to data-rich, software-enabled technologies in diverse and growing end markets.
The transaction is anticipated to get completed in fiscal 2021 (ending September 2021).
Zacks Rank, Price Performance and Estimate Trend
The company with a market capitalization of $59.1 billion, currently carries a Zacks Rank #3 (Hold). It is likely to benefit from strength across its medical, life science, food and beverage, and residential end markets. Also, it is likely to gain from acquisitions it made over time. However, escalating costs and expenses are a major concern for the company.
In the past three months, the company’s stock has gained 8.8% compared with the industry’s growth of 6.9%.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Emerson’s earnings is pegged at $3.93 for fiscal 2021 and $4.33 for fiscal 2022 (ending September 2022), reflecting growth of 2.1% and 1.2%, respectively, from the 60-day-ago figures.
Stocks to Consider
Some better-ranked stocks from the same space are A. O. Smith Corporation (AOS - Free Report) , Eaton Corporation plc (ETN - Free Report) and Franklin Electric Co., Inc. (FELE - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A. O. Smith delivered an earnings surprise of 7.14% in the last reported quarter.
Eaton delivered an earnings surprise of 15.20% in the last reported quarter.
Franklin Electric delivered an earnings surprise of 51.28% in the last reported quarter.