PNM Resources (NYSE:PNM – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.65-2.75 for the period, compared to the consensus estimate of $2.69. PNM Resources also updated its FY 2024 guidance to 2.650-2.750 EPS.
PNM Resources Trading Down 1.0 %
NYSE PNM traded down $0.44 during trading on Friday, hitting $41.77. The stock had a trading volume of 512,372 shares, compared to its average volume of 720,509. The company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $3.77 billion, a PE ratio of 45.90 and a beta of 0.35. The firm has a 50 day moving average price of $38.05 and a 200 day moving average price of $37.43. PNM Resources has a twelve month low of $34.63 and a twelve month high of $45.10.
PNM Resources (NYSE:PNM – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. PNM Resources had a net margin of 4.50% and a return on equity of 10.15%. The business had revenue of $488.10 million during the quarter, compared to analyst estimates of $481.02 million. During the same quarter last year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that PNM Resources will post 2.72 earnings per share for the current year.
PNM Resources Dividend Announcement
Wall Street Analysts Forecast Growth
PNM has been the topic of several analyst reports. Barclays lifted their target price on PNM Resources from $43.00 to $45.00 and gave the company an overweight rating in a research note on Monday, July 22nd. StockNews.com upgraded PNM Resources from a sell rating to a hold rating in a research report on Friday. Evercore ISI started coverage on PNM Resources in a research note on Thursday, May 30th. They issued an in-line rating and a $38.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on PNM Resources from $41.00 to $46.00 and gave the stock an overweight rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, PNM Resources currently has an average rating of Hold and an average target price of $44.20.
View Our Latest Stock Report on PNM
About PNM Resources
PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.
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