Alliant Energy Corporation (LNT) Announces Earnings Results, Misses Expectations By $0.13 EPS
Alliant Energy Corporation (NYSE:LNT) released its quarterly earnings results on Thursday. The utilities provider reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.13), Briefing.com reports. Alliant Energy Corporation had a net margin of 13.13% and a return on equity of 11.18%. The business had revenue of $907.00 million for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the business earned $0.80 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Alliant Energy Corporation updated its FY17 guidance to $1.89-1.97 EPS and its FY18 guidance to $2.04-2.18 EPS.
Shares of Alliant Energy Corporation (NYSE:LNT) traded up $0.76 on Friday, reaching $43.83. The company’s stock had a trading volume of 2,344,866 shares, compared to its average volume of 1,320,000. The company has a market cap of $10.13 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 3.49 and a beta of 0.47. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.67 and a quick ratio of 0.51. Alliant Energy Corporation has a 52-week low of $34.88 and a 52-week high of $44.39.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a $0.315 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.26 dividend on an annualized basis and a yield of 2.87%. Alliant Energy Corporation’s payout ratio is 68.11%.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Alliant Energy Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Bank of America Corporation assumed coverage on Alliant Energy Corporation in a report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 price target for the company. BidaskClub raised Alliant Energy Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $43.00 price target (up from $42.00) on shares of Alliant Energy Corporation in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.00.
In other Alliant Energy Corporation news, insider Wayne A. Reschke sold 2,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $42.83, for a total value of $85,660.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.
Alliant Energy Corporation Company Profile
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
Receive News & Ratings for Alliant Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliant Energy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.