Wisconsin Energy Corp (WEC) Updates FY14 Earnings Guidance
Wisconsin Energy Corp (NYSE:WEC) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.58-2.64 for the period, compared to the Thomson Reuters consensus estimate of $2.61, StockRatingsNetwork reports.
Wisconsin Energy Corp (NYSE:WEC) traded down 1.74% during mid-day trading on Tuesday, hitting $44.54. 1,055,375 shares of the company’s stock traded hands. Wisconsin Energy Corp has a 1-year low of $39.52 and a 1-year high of $49.21. The stock’s 50-day moving average is $44.29 and its 200-day moving average is $45.34. The company has a market cap of $10.045 billion and a price-to-earnings ratio of 16.61.
Wisconsin Energy Corp (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.52 by $0.06. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Analysts expect that Wisconsin Energy Corp will post $2.62 EPS for the current fiscal year.
A number of analysts have recently weighed in on WEC shares. Analysts at Zacks reiterated an outperform rating on shares of Wisconsin Energy Corp in a research note on Friday, August 1st. They now have a $52.00 price target on the stock. On a related note, analysts at CRT Capital reiterated a fairly valued rating on shares of Wisconsin Energy Corp in a research note on Monday, July 21st. They now have a $46.00 price target on the stock, up previously from $44.00. Finally, analysts at Robert W. Baird raised their price target on shares of Wisconsin Energy Corp from $47.00 to $50.00 in a research note on Wednesday, June 25th. They now have a neutral rating on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $47.64.
In other Wisconsin Energy Corp news, President Allen L. Leverett unloaded 115,610 shares of the company’s stock on the open market in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $44.50, for a total transaction of $5,144,645.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Wisconsin Energy Corporation is a diversified holding company. The Company operates primarily through two segments: a utility energy segment and a non-utility energy segment.
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