ALLETE (NYSE:ALE – Get Free Report) is scheduled to announce its earnings results before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of $1.09 per share for the quarter. ALLETE has set its FY 2024 guidance at 3.600-3.900 EPS and its FY23 guidance at $3.60-3.90 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.
ALLETE (NYSE:ALE – Get Free Report) last issued its earnings results on Tuesday, February 20th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.08). The firm had revenue of $402.70 million during the quarter, compared to analyst estimates of $425.21 million. ALLETE had a net margin of 13.15% and a return on equity of 7.31%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. On average, analysts expect ALLETE to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
ALLETE Price Performance
NYSE:ALE opened at $63.09 on Wednesday. ALLETE has a 12-month low of $49.29 and a 12-month high of $65.86. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 14.67 and a beta of 0.75. The stock’s 50 day moving average price is $58.94 and its two-hundred day moving average price is $58.44. The company has a quick ratio of 0.78, a current ratio of 1.24 and a debt-to-equity ratio of 0.49.
ALLETE Dividend Announcement
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. Sidoti lowered ALLETE from a “buy” rating to a “neutral” rating and set a $64.00 target price on the stock. in a report on Wednesday, January 10th. Guggenheim upgraded shares of ALLETE from a “sell” rating to a “neutral” rating and set a $58.00 target price for the company in a research report on Monday, January 22nd. Finally, Wells Fargo & Company increased their price target on shares of ALLETE from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.60.
About ALLETE
ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.
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