ALLETE (NYSE:ALE – Get Free Report) will be releasing its earnings data before the market opens on Thursday, May 9th. Analysts expect ALLETE to post 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.Persons that wish to register for the company’s earnings conference call can do so using this link.
ALLETE (NYSE:ALE – Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.08). ALLETE had a return on equity of 7.31% and a net margin of 13.15%. The company had revenue of $402.70 million during the quarter, compared to the consensus estimate of $425.21 million. During the same period in the prior year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts expect ALLETE to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
ALLETE Stock Performance
Shares of ALE opened at $60.35 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.24 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average price is $58.39 and its 200-day moving average price is $58.14. ALLETE has a 52 week low of $49.29 and a 52 week high of $63.71. The stock has a market cap of $3.47 billion, a P/E ratio of 14.03 and a beta of 0.75.
ALLETE Dividend Announcement
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on ALE shares. Wells Fargo & Company boosted their target price on shares of ALLETE from $57.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 21st. Guggenheim raised shares of ALLETE from a “sell” rating to a “neutral” rating and set a $58.00 price objective for the company in a report on Monday, January 22nd. Finally, Sidoti downgraded shares of ALLETE from a “buy” rating to a “neutral” rating and set a $64.00 price objective for the company. in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.60.
Check Out Our Latest Stock Report on ALE
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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