Pike Electric Corp. (PIKE) Releases Quarterly Earnings Results
Pike Electric Corp. (NASDAQ:PIKE) issued its quarterly earnings data on Tuesday. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.08 by $0.10, Analyst Ratings Network reports. The company had revenue of $210.90 million for the quarter, compared to the consensus estimate of $205.29 million. During the same quarter last year, the company posted $0.67 earnings per share. Pike Electric Corp.’s revenue was down 22.9% compared to the same quarter last year.
A number of analysts have recently weighed in on PIKE shares. Analysts at Jefferies Group cut their price target on shares of Pike Electric Corp. from $11.00 to $10.00 in a research note to investors on Wednesday, November 6th. They now have a “hold” rating on the stock. Analysts at Janney Montgomery Scott upgraded shares of Pike Electric Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.70.
Shares of Pike Electric Corp. (NASDAQ:PIKE) traded down 0.10% during mid-day trading on Tuesday, hitting $10.09. 168,318 shares of the company’s stock traded hands. Pike Electric Corp. has a one year low of $8.72 and a one year high of $15.95. The stock has a 50-day moving average of $10.67 and a 200-day moving average of $10.95. The company has a market cap of $320.8 million and a price-to-earnings ratio of 12.42.
Pike Electric Corporation (NASDAQ:PIKE), provides energy solutions for investor-owned, municipal and co-operative utilities in the United States.
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