Alliant Energy Corporation (LNT) Releases Earnings Results, Misses Expectations By $0.13 EPS
Alliant Energy Corporation (NYSE:LNT) announced its quarterly earnings results on Thursday. The utilities provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.13), Briefing.com reports. The company had revenue of $907.00 million during the quarter, compared to the consensus estimate of $1.23 billion. Alliant Energy Corporation had a net margin of 13.13% and a return on equity of 11.18%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. Alliant Energy Corporation updated its FY17 guidance to $1.89-1.97 EPS and its FY18 guidance to $2.04-2.18 EPS.
Alliant Energy Corporation (LNT) traded up $0.76 during midday trading on Friday, reaching $43.83. The company had a trading volume of 2,344,866 shares, compared to its average volume of 1,272,288. Alliant Energy Corporation has a twelve month low of $34.88 and a twelve month high of $44.39. The company has a current ratio of 0.67, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The company has a market cap of $10,127.45, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.55 and a beta of 0.46.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.315 per share. 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 67.74%.
A number of analysts have recently commented on LNT shares. BidaskClub raised Alliant Energy Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Jefferies Group LLC reissued a “hold” rating and set a $43.00 target price (up from $42.00) on shares of Alliant Energy Corporation in a research note on Wednesday, August 9th. Bank of America Corporation assumed coverage on Alliant Energy Corporation in a research note on Tuesday, October 24th. They set a “neutral” rating and a $45.00 target price for the company. Finally, Zacks Investment Research cut Alliant Energy Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Alliant Energy Corporation currently has an average rating of “Hold” and an average price target of $42.00.
In related news, insider Wayne A. Reschke sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $42.83, for a total transaction of $85,660.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate 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.
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