Analysts expect El Paso Electric Company (NYSE:EE) to announce earnings per share (EPS) of $1.57 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for El Paso Electric’s earnings. The lowest EPS estimate is $1.52 and the highest is $1.61. El Paso Electric reported earnings of $1.84 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.7%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, 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 company will report earnings of $2.75 per share, with EPS estimates ranging from $2.53 to $2.85. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover El Paso Electric.
El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.14. The business had revenue of $251.84 million during the quarter. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. During the same period in the prior year, the company posted $0.55 EPS.
Several equities analysts have recently commented on the stock. Jefferies Group LLC restated a “hold” rating and issued a $56.00 target price (up from $55.00) on shares of El Paso Electric in a research report on Friday, August 11th. BidaskClub upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research upgraded shares of El Paso Electric from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Finally, Mizuho initiated coverage on shares of El Paso Electric in a research report on Thursday, August 17th. They set a “neutral” rating and a $55.00 price objective for the company. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $53.25.
Shares of El Paso Electric (NYSE:EE) traded down 1.86% on Tuesday, hitting $55.30. 178,072 shares of the stock were exchanged. The firm has a market capitalization of $2.24 billion, a PE ratio of 19.98 and a beta of 0.48. The company has a 50-day moving average price of $53.94 and a 200-day moving average price of $51.95. El Paso Electric has a one year low of $42.49 and a one year high of $56.35.
In related news, Director Charles Yamarone sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total transaction of $183,645.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $524,700. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.33% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Neuburgh Advisers LLC increased its position in El Paso Electric by 1.1% during the 1st quarter. Neuburgh Advisers LLC now owns 2,068 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 22 shares in the last quarter. Tyers Asset Management LLC increased its position in El Paso Electric by 1.1% during the 1st quarter. Tyers Asset Management LLC now owns 2,632 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 28 shares in the last quarter. Flinton Capital Management LLC increased its position in El Paso Electric by 1.1% during the 1st quarter. Flinton Capital Management LLC now owns 3,196 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 34 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in El Paso Electric during the 1st quarter worth approximately $176,000. Finally, 1st Global Advisors Inc. acquired a new position in El Paso Electric during the 2nd quarter worth approximately $202,000. Institutional investors and hedge funds own 97.96% of the company’s stock.
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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