PNM Resources (NYSE:PNM - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.65-2.75 for the period, compared to the consensus earnings per share estimate of $2.69.
PNM Resources Stock Performance
Shares of PNM remained flat at $37.06 during mid-day trading on Tuesday. 1,032,651 shares of the company traded hands, compared to its average volume of 1,371,060. PNM Resources has a 52-week low of $34.63 and a 52-week high of $48.71. The company has a current ratio of 0.39, a quick ratio of 0.31 and a debt-to-equity ratio of 1.77. The firm's fifty day simple moving average is $37.06 and its 200 day simple moving average is $39.32. The stock has a market cap of $3.34 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 10.04 and a beta of 0.35.
PNM Resources (NYSE:PNM - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.04. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. The firm had revenue of $412.11 million during the quarter, compared to the consensus estimate of $705.05 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Research analysts anticipate that PNM Resources will post 2.7 earnings per share for the current fiscal year.
PNM Resources Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a dividend of $0.387 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.55 annualized dividend and a dividend yield of 4.18%. PNM Resources's dividend payout ratio (DPR) is presently 150.49%.
Analyst Ratings Changes
Several research analysts recently weighed in on PNM shares. Barclays upped their price target on shares of PNM Resources from $40.00 to $43.00 and gave the stock an overweight rating in a research report on Monday, April 15th. Wells Fargo & Company upgraded shares of PNM Resources from an equal weight rating to an overweight rating and set a $44.00 price objective for the company in a report on Wednesday, January 3rd. StockNews.com downgraded shares of PNM Resources from a hold rating to a sell rating in a report on Wednesday, January 17th. Mizuho downgraded shares of PNM Resources from a buy rating to a neutral rating and set a $41.00 price objective for the company. in a report on Wednesday, January 3rd. Finally, TheStreet downgraded shares of PNM Resources from a b- rating to a c+ rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, PNM Resources currently has a consensus rating of Hold and an average target price of $46.80.
Check Out Our Latest Stock Report on PNM
PNM Resources Company Profile
(
Get Free Report)
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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