Companhia Paranaense de Energia - Copel (NYSE:ELPC) Releases Earnings Results

Key Points

• Copel beat quarterly expectations: EPS was $0.18 versus the $0.13 consensus, while revenue of $1.24 billion exceeded estimates of $1.05 billion.
• Shares fell $0.30 to $10.66 in midday trading, below the stock’s 50-day moving average of $12.42.
• The company paid a special dividend of $0.1904 per share. Analysts’ consensus rating was Buy, with a $10.40 average price target.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05, FiscalAI reports. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.05 billion.

Companhia Paranaense de Energia - Copel Stock Performance

Shares of NYSE ELPC traded down $0.30 during midday trading on Thursday, hitting $10.66. 482,070 shares of the stock traded hands, compared to its average volume of 952,068. Companhia Paranaense de Energia - Copel has a one year low of $8.86 and a one year high of $14.51. The business has a 50 day moving average price of $12.42 and a two-hundred day moving average price of $11.82. The company has a market cap of $7.93 billion and a PE ratio of 20.30.

Companhia Paranaense de Energia - Copel Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Tuesday, October 13th. Stockholders of record on Friday, May 1st were issued a dividend of $0.1904 per share. The ex-dividend date was Friday, May 1st. Companhia Paranaense de Energia - Copel's payout ratio is currently 85.71%.

Insider Activity

In related news, Director Pedro Sales sold 50,000 shares of the stock in a transaction on Monday, October 19th. The stock was sold at an average price of $3.48, for a total value of $174,000.00. Following the transaction, the director directly owned 24,844 shares in the company, valued at $86,457.12. This trade represents a 66.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research upgraded shares of Companhia Paranaense de Energia - Copel from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 28th. Weiss Ratings upgraded shares of Companhia Paranaense de Energia - Copel from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, October 30th. Finally, Wall Street Zen lowered shares of Companhia Paranaense de Energia - Copel from a "buy" rating to a "hold" rating in a report on Sunday, September 13th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $10.40.

About Companhia Paranaense de Energia - Copel

Companhia Paranaense de Energia, known as Copel, is a Brazilian electric utility headquartered in Curitiba, Paraná. Established in 1954 by the state of Paraná, the company became a privately controlled corporation in 2023. Copel operates across the electricity sector, with activities that include power generation, transmission, distribution and energy trading. Its generation portfolio includes hydroelectric and renewable energy assets, and its transmission and generation operations extend beyond Paraná.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.