Following a downgrade of El Paso Electric Company EE – from Buy to Hold – Jefferies said that it is maintaining its 2011 EPS estimate of $2.10 and 2011 EPS estimate of $2.25.
“Our 2011 estimate assumes the Palo Verde nuclear plant Unit 3 operates at an 88% capacity utilization rate,” Jefferies writes.
“Furthermore, we assume the company initiates a dividend and allocates approximately $46 million of capital allocation in the form of share repurchases ($25 million) and the introduction of a dividend ($21 million).”
Jefferies is also maintaining its 2012 EPS estimate of $2.30.
El Paso Electric Company closed Monday at $28.43.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in