PG&E (NYSE:PCG) Issues FY24 Earnings Guidance

PG&E (NYSE:PCG - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.33-1.37 for the period, compared to the consensus earnings per share estimate of $1.35. PG&E also updated its FY 2024 guidance to 1.330-1.370 EPS.

PG&E Trading Up 0.4 %

Shares of NYSE:PCG traded up $0.07 during trading on Thursday, reaching $17.07. 16,434,230 shares of the stock were exchanged, compared to its average volume of 15,634,307. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83. PG&E has a 12-month low of $14.71 and a 12-month high of $18.32. The firm has a market cap of $36.47 billion, a price-to-earnings ratio of 16.25 and a beta of 1.32. The firm's 50-day moving average price is $16.56 and its 200 day moving average price is $16.88.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.43 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. During the same period in the previous year, the company posted $0.26 EPS. On average, sell-side analysts anticipate that PG&E will post 1.35 earnings per share for the current fiscal year.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E's dividend payout ratio (DPR) is presently 3.81%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on PG&E in a research report on Wednesday, April 10th. They issued a buy rating and a $21.00 target price on the stock. Barclays cut their target price on PG&E from $20.00 to $19.00 and set an overweight rating on the stock in a research report on Monday, January 22nd. JPMorgan Chase & Co. upped their target price on PG&E from $18.00 to $19.00 and gave the company a neutral rating in a research report on Tuesday. Finally, StockNews.com raised PG&E from a sell rating to a hold rating in a research report on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $18.89.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.