YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The Joplin-based utility’s shares closed at $22.25 yesterday, compared to a 52-week range of $19.25 to $24.16.
Empire spokeswoman Amy Bass said the analyst changed the rating after the company’s shares reached its price target.
“It really isn’t a downgrade,” she said.
She said the rating change came after Empire’s shares jumped 46 cents on Tuesday, from $22.59 to $23.05.
Empire shares have been trading higher since the company released its second-quarter results on June 27. Empire earned $7.1 million, or 27 cents per share, in the quarter, compared with earnings in the same quarter last year of $3.2 million. Analysts had expected Empire to earn 14 cents per share.
Analysts are expecting Empire to earn 75 cents per share for the current quarter ending Sept. 30. The company earned 78 cents per share for the third-quarter last year.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
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