Cleco Corp. Downgraded to Hold at KeyCorp (CNL)
Cleco Corp. (NYSE:CNL) was downgraded by investment analysts at KeyCorp from a “buy” rating to a “hold” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $51.50 price objective on the stock. KeyCorp’s price objective points to a potential downside of 8.00% from the company’s current price.
Cleco Corp. (NYSE:CNL) opened at 55.90 on Friday. Cleco Corp. has a 1-year low of $43.69 and a 1-year high of $56.37. The stock has a 50-day moving average of $51.77 and a 200-day moving average of $49.25. The company has a market cap of $3.374 billion and a price-to-earnings ratio of 21.29.
Cleco Corp. (NYSE:CNL) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. 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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