Ladenburg Thalmann Raises El Paso Electric to Buy (EE)

By admin | 6 years ago

El Paso Electric (NYSE: EE) was upgraded by research analysts at Ladenburg Thalmann from a “neutral” rating to a “buy” rating in a report released on Friday.

El Paso Electric traded down 0.10% on Friday, hitting $29.81. El Paso Electric has a 1-year low of $29.29 and a 1-year high of $35.71. The company has a market cap of $1.196 billion and a price-to-earnings ratio of 12.41.

El Paso Electric last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.12 by $0.04. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts predict that El Paso Electric will post $1.28 earnings per share next quarter.

Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group (NYSE: JEF) cut their price target on shares of El Paso Electric to $34.50 in a research note to investors on Thursday. They now have a “buy” rating on the stock.

El Paso Electric Company is a utility company 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.

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