ALLETE, Inc. (ALE) Updates FY12 Earnings Guidance
ALLETE, Inc. (ALE) issued an update on its FY12 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.50-2.60 for the period.
Shares of ALLETE, Inc. (ALE) traded up 0.10% during mid-day trading on Wednesday, hitting $41.42. ALLETE, Inc. (ALE) has a one year low of $37.36 and a one year high of $42.66. The company has a market cap of $1.545 billion and a P/E ratio of 19.21.
ALLETE last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.73 by $0.05. ALLETE’s revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that ALLETE, Inc. (ALE) will post $2.56 earnings per share for the current fiscal year.
On a related note, analysts at Ladenburg Thalmann upgraded shares of ALLETE from a neutral rating to a buy rating in a research note to investors on Thursday, August 16th. They now have a $45.00 price target on the stock, up previously from $44.00.
ALLETE, Inc. (ALLETE) is an energy company. The Company operates in two segments: Regulated Operations, and Investments and Other.
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