Shares of Companhia Paranaense de Energia (NYSE:ELP) dropped 1.7% on Tuesday . The company traded as low as $10.16 and last traded at $10.18, with a volume of 246,627 shares. The stock had previously closed at $10.36.

Separately, Citigroup Inc. cut Companhia Paranaense de Energia from a “buy” rating to a “neutral” rating in a research report on Friday, August 5th.

The firm has a market capitalization of $2.79 billion and a price-to-earnings ratio of 5.53. The firm has a 50-day moving average of $9.98 and a 200-day moving average of $8.07.

Companhia Paranaense de Energia (NYSE:ELP) last issued its quarterly earnings data on Friday, August 12th. The company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.91. Equities analysts forecast that Companhia Paranaense de Energia will post $0.91 earnings per share for the current fiscal year.

Companhia Paranaense de Energia is engaged in the generation, transmission, distribution and sale of electricity in the Brazilian State of Parana. The Company also provides telecommunications and other services. Its segments are Power generation and transmission (GET), Power distribution and sales (DIS), Telecommunications (TEL), GAS and Holding Company (HOL).

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