PPL (NYSE:PPL) Releases FY 2024 Earnings Guidance

PPL (NYSE:PPL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.670-1.730 for the period, compared to the consensus estimate of 1.710. The company issued revenue guidance of -. PPL also updated its FY24 guidance to $1.67-1.73 EPS.

PPL Trading Up 1.0 %

PPL stock opened at $32.56 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91. The stock has a market cap of $24.02 billion, a P/E ratio of 28.56, a PEG ratio of 2.75 and a beta of 0.82. The firm’s 50 day moving average price is $32.33 and its 200-day moving average price is $29.97. PPL has a 1 year low of $24.24 and a 1 year high of $33.38.

PPL (NYSE:PPL) last issued its earnings results on Friday, August 2nd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. PPL had a return on equity of 9.26% and a net margin of 10.17%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. On average, equities analysts predict that PPL will post 1.72 earnings per share for the current fiscal year.

PPL Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s payout ratio is 90.35%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PPL. Bank of America raised their target price on shares of PPL from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Morgan Stanley lifted their price objective on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Barclays increased their price target on shares of PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. assumed coverage on PPL in a research note on Friday, October 25th. They set an “overweight” rating and a $37.00 price objective on the stock. Finally, Jefferies Financial Group assumed coverage on PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.40.

About PPL

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.