Exelon (NASDAQ:EXC) Releases FY 2024 Earnings Guidance

Exelon (NASDAQ:EXC) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.400-2.500 for the period, compared to the consensus estimate of 2.450. The company issued revenue guidance of -. Exelon also updated its FY24 guidance to $2.40-2.50 EPS.

Exelon Trading Down 2.9 %

Shares of NASDAQ EXC traded down $1.15 during mid-day trading on Friday, hitting $38.15. 7,671,481 shares of the company traded hands, compared to its average volume of 6,760,974. The business has a 50 day moving average of $39.65 and a two-hundred day moving average of $37.70. The stock has a market capitalization of $38.17 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 2.88 and a beta of 0.53. Exelon has a 1 year low of $33.35 and a 1 year high of $41.48. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC) last announced its earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. The company had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $5.85 billion. Exelon had a net margin of 10.60% and a return on equity of 9.47%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 EPS. On average, sell-side analysts anticipate that Exelon will post 2.44 earnings per share for the current fiscal year.

Exelon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 11th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, November 8th. Exelon’s dividend payout ratio (DPR) is presently 62.55%.

Analysts Set New Price Targets

A number of brokerages have commented on EXC. Morgan Stanley boosted their target price on Exelon from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Scotiabank boosted their price target on Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Barclays raised their price objective on shares of Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Wells Fargo & Company upped their price objective on shares of Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group began coverage on Exelon in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Exelon has a consensus rating of “Hold” and a consensus price target of $41.33.

About Exelon

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.