Cleco Corp. (CNL) Set to Announce Quarterly Earnings on Tuesday
Cleco Corp. (NYSE:CNL) will be announcing its Q1 earnings results on Tuesday, April 29th. Cleco Corp. has set its FY14 guidance at $2.65-2.75 EPS.Investors interested in listening to the company’s conference call can do so using this link.
Cleco Corp. (NYSE:CNL) last announced its earnings results on Tuesday, February 25th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.43 by $0.02. On average, analysts expect Cleco Corp. to post $2.71 EPS for the current fiscal year and $2.92 EPS for the next fiscal year.
Shares of Cleco Corp. (NYSE:CNL) opened at 51.78 on Monday. Cleco Corp. has a one year low of $43.69 and a one year high of $51.87. The stock’s 50-day moving average is $49.96 and its 200-day moving average is $47.67. The company has a market cap of $3.131 billion and a P/E ratio of 19.15.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 15th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, May 2nd. This is a positive change from Cleco Corp.’s previous quarterly dividend of $0.36.
CNL has been the subject of a number of recent research reports. Analysts at KeyCorp reiterated a “buy” rating on shares of Cleco Corp. in a research note on Tuesday, April 22nd. They now have a $51.50 price target on the stock. Analysts at Ladenburg Thalmann raised their price target on shares of Cleco Corp. from $47.00 to $49.00 in a research note on Monday, March 3rd.
Cleco Corporation (NYSE:CNL) is a public utility holding company which holds investments in several subsidiaries, including Cleco Power LLC and its subsidiaries (Cleco Power) and Cleco Midstream Resources LLC (Midstream), which are its operating business segments.
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