American Electric Power Misses Estimates (AEP)

Columbus, Ohio-based American Electric Power Company AEP announced on Friday morning that it missed consensus Wall Street estimates. American Electric Power Company reported that its 4th quarter earnings fell 26% to $176 million, or 37 cents per share, from $238 million, or 50 cents per share, a year earlier. Excluding special items, the company's earnings came in at 38 cents per share. American Electric Power Company reported revenue of $3.4 billion, up from $3.3 billion a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 40 cents per share, on revenue of $3.55 billion. The company reaffirmed its guidance for 2011 earnings in the range of $3.00 to $3.20 per share. American Electric Power Company (AEP) closed the previous trading day at $36.69 per share. Analysts covering the company's stock give it a consensus price target of $39.28 per share. American Electric Power Company is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. Read more from Benzinga's Company news.