El Paso Electric (EE) Expected to Announce Earnings of $0.22 Per Share

Brokerages expect El Paso Electric (NYSE:EE) to report earnings of $0.22 per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for El Paso Electric’s earnings. El Paso Electric posted earnings of $0.14 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 57.1%. The firm is scheduled to report its next earnings results before the market opens on Tuesday, February 27th.

According to Zacks, analysts expect that El Paso Electric will report full-year earnings of $2.50 per share for the current year. For the next fiscal year, analysts forecast that the company will post earnings of $2.66 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover El Paso Electric.

A number of analysts recently commented on EE shares. Bank of America started coverage on shares of El Paso Electric in a research note on Tuesday, October 24th. They issued a “buy” rating and a $62.00 target price for the company. Mizuho reiterated a “hold” rating and issued a $55.00 target price on shares of El Paso Electric in a research note on Friday, October 27th. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Finally, Zacks Investment Research cut shares of El Paso Electric from a “hold” rating to a “sell” rating in a research note on Monday, December 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.50.

A number of hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its position in El Paso Electric by 6.8% during the 2nd quarter. Stifel Financial Corp now owns 7,494 shares of the utilities provider’s stock worth $385,000 after buying an additional 476 shares during the last quarter. Goldman Sachs Group Inc. raised its position in El Paso Electric by 0.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 89,786 shares of the utilities provider’s stock worth $4,642,000 after buying an additional 812 shares during the last quarter. Royal Bank of Canada raised its position in El Paso Electric by 20.5% during the 2nd quarter. Royal Bank of Canada now owns 18,308 shares of the utilities provider’s stock worth $947,000 after buying an additional 3,116 shares during the last quarter. State Street Corp raised its position in El Paso Electric by 2.6% during the 2nd quarter. State Street Corp now owns 1,083,231 shares of the utilities provider’s stock worth $56,009,000 after buying an additional 27,558 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in El Paso Electric during the 2nd quarter worth approximately $294,000. Institutional investors own 97.92% of the company’s stock.

Shares of El Paso Electric (NYSE:EE) opened at $50.25 on Wednesday. The company has a market cap of $2,082.36, a P/E ratio of 20.94, a P/E/G ratio of 3.78 and a beta of 0.37. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.63 and a quick ratio of 0.47. El Paso Electric has a 12 month low of $46.45 and a 12 month high of $61.15.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, March 15th. El Paso Electric’s dividend payout ratio (DPR) is presently 55.83%.

COPYRIGHT VIOLATION WARNING: “El Paso Electric (EE) Expected to Announce Earnings of $0.22 Per Share” was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of US & international copyright law. The correct version of this piece of content can be viewed at https://stocknewstimes.com/2018/02/21/el-paso-electric-ee-expected-to-announce-earnings-of-0-22-per-share.html.

El Paso Electric Company Profile

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).

Get a free copy of the Zacks research report on El Paso Electric (EE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for El Paso Electric (NYSE:EE)

Receive News & Ratings for El Paso Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for El Paso Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply