Cleco Corp. Hits New 1-Year High at $56.37 (CNL)
Cleco Corp. (NYSE:CNL) shares hit a new 52-week high on Thursday , StockRatingsNetwork reports. The stock traded as high as $56.37 and last traded at $56.04, with a volume of 378,295 shares. The stock had previously closed at $52.83.
Separately, 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.
The stock’s 50-day moving average is $51.68 and its 200-day moving average is $49.21. The company has a market cap of $3.379 billion and a P/E ratio of 20.09.
Cleco Corp. (NYSE:CNL) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.42 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.43 by $0.01. The company had revenue of $284.40 million for the quarter, compared to the consensus estimate of $242.23 million. During the same quarter last year, the company posted $0.44 earnings per share. Cleco Corp.’s revenue was up 18.1% compared to the same quarter last year. On average, analysts predict that Cleco Corp. will post $2.75 earnings per share for the current fiscal year.
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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