El Paso Electric Company (EE) Expected to Announce Earnings of $0.67 Per Share
Brokerages expect that El Paso Electric Company (NYSE:EE) will announce $0.67 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for El Paso Electric’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.73. El Paso Electric posted earnings per share of $0.55 in the same quarter last year, which indicates a positive year over year growth rate of 21.8%. The firm is expected to report its next earnings results before the market opens on Wednesday, August 2nd.
On average, analysts expect that El Paso Electric will report full year earnings of $2.51 per share for the current year, with EPS estimates ranging from $2.40 to $2.61. For the next fiscal year, analysts forecast that the firm will report earnings of $2.76 per share, with EPS estimates ranging from $2.65 to $2.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover El Paso Electric.
El Paso Electric (NYSE:EE) last announced its earnings results on Wednesday, May 3rd. The utilities provider reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.05. El Paso Electric had a return on equity of 9.34% and a net margin of 10.95%. The business had revenue of $171.34 million for the quarter. During the same quarter last year, the business posted ($0.14) EPS.
A number of analysts have weighed in on the company. BidaskClub cut El Paso Electric from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research cut El Paso Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Finally, Jefferies Group LLC raised their price objective on El Paso Electric from $48.50 to $52.00 and gave the stock a “hold” rating in a report on Thursday, May 4th. Five research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $51.33.
Shares of El Paso Electric (EE) remained flat at $51.05 on Monday. The company’s stock had a trading volume of 106,612 shares. The company’s 50 day moving average price is $53.08 and its 200 day moving average price is $49.54. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 21.02 and a beta of 0.49. El Paso Electric has a 12-month low of $42.49 and a 12-month high of $55.45.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from El Paso Electric’s previous quarterly dividend of $0.31. El Paso Electric’s dividend payout ratio (DPR) is currently 55.14%.
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In related news, Director Charles Yamarone sold 3,500 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $52.47, for a total transaction of $183,645.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $524,700. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.33% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of El Paso Electric by 34,872.4% in the first quarter. BlackRock Inc. now owns 5,344,481 shares of the utilities provider’s stock worth $269,896,000 after buying an additional 5,329,199 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of El Paso Electric by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,883,762 shares of the utilities provider’s stock worth $196,130,000 after buying an additional 170,235 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of El Paso Electric by 4.0% in the first quarter. Victory Capital Management Inc. now owns 1,071,469 shares of the utilities provider’s stock worth $54,109,000 after buying an additional 40,772 shares in the last quarter. State Street Corp raised its stake in shares of El Paso Electric by 5.8% in the first quarter. State Street Corp now owns 1,055,673 shares of the utilities provider’s stock worth $53,314,000 after buying an additional 57,564 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of El Paso Electric by 5.5% in the first quarter. Macquarie Group Ltd. now owns 986,255 shares of the utilities provider’s stock worth $49,806,000 after buying an additional 51,724 shares in the last quarter. 96.66% of the stock is currently owned by institutional investors.
About El Paso Electric
El Paso Electric Company is a public utility company. As of December 31, 2016, the Company was engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico. As of December 31, 2016, the Company owned or had ownership interests in several electrical generating facilities providing it with a generating capability of approximately 2,080 megawatts (MW).
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