El Paso Electric Stock Rating Lowered by Goldman Sachs Group Inc. (EE)
El Paso Electric (NYSE:EE) was downgraded by Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a research note issued on Monday, TheFlyOnTheWall.com reports.
El Paso Electric (NYSE:EE) traded down 1.66% during mid-day trading on Monday, hitting $35.52. The stock had a trading volume of 432,926 shares. El Paso Electric has a 52 week low of $32.13 and a 52 week high of $39.12. The stock’s 50-day moving average is $34. and its 200-day moving average is $35.23. The company has a market cap of $1.430 billion and a price-to-earnings ratio of 15.77.
El Paso Electric (NYSE:EE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by $0.03. The company had revenue of $196.00 million for the quarter, compared to the consensus estimate of $273.76 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts predict that El Paso Electric will post $2.33 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, December 18th. They now have a $37.00 price target on the stock, down previously from $40.00. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.21.
El Paso Electric Company is engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico.
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