$1.23 EPS Expected for PNM Resources Inc (NYSE:PNM) This Quarter

Share on StockTwits

Analysts expect PNM Resources Inc (NYSE:PNM) to post earnings of $1.23 per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for PNM Resources’ earnings. PNM Resources posted earnings of $1.08 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 13.9%. The business is expected to report its next quarterly earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that PNM Resources will report full year earnings of $2.08 per share for the current fiscal year. For the next financial year, analysts forecast that the company will report earnings of $2.20 per share, with EPS estimates ranging from $2.19 to $2.22. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow PNM Resources.

PNM Resources (NYSE:PNM) last posted its earnings results on Friday, August 2nd. The utilities provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $330.23 million for the quarter. PNM Resources had a positive return on equity of 8.08% and a negative net margin of 1.69%.

Several research firms recently commented on PNM. UBS Group raised their target price on PNM Resources from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Barclays reaffirmed a “sell” rating and set a $49.00 target price on shares of PNM Resources in a report on Wednesday, June 19th. Wells Fargo & Co set a $52.00 target price on PNM Resources and gave the stock a “hold” rating in a report on Monday, July 15th. TheStreet raised PNM Resources from a “c+” rating to a “b-” rating in a report on Thursday, August 29th. Finally, Mizuho raised their target price on PNM Resources from $52.50 to $54.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $50.83.

PNM Resources stock traded up $0.44 during midday trading on Friday, hitting $51.55. 12,702 shares of the company were exchanged, compared to its average volume of 331,577. The firm has a market capitalization of $4.01 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 4.42 and a beta of 0.23. PNM Resources has a fifty-two week low of $37.67 and a fifty-two week high of $52.10. The business has a fifty day simple moving average of $50.36 and a two-hundred day simple moving average of $48.57. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.34 and a current ratio of 0.45.

A number of institutional investors and hedge funds have recently modified their holdings of PNM. Price T Rowe Associates Inc. MD grew its holdings in PNM Resources by 6.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,402,748 shares of the utilities provider’s stock valued at $376,874,000 after purchasing an additional 449,729 shares during the period. Nuveen Asset Management LLC lifted its position in shares of PNM Resources by 5,554.4% in the second quarter. Nuveen Asset Management LLC now owns 358,152 shares of the utilities provider’s stock valued at $18,233,000 after acquiring an additional 351,818 shares in the last quarter. AJO LP lifted its position in shares of PNM Resources by 53.7% in the first quarter. AJO LP now owns 804,837 shares of the utilities provider’s stock valued at $38,101,000 after acquiring an additional 281,037 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of PNM Resources by 2.0% in the second quarter. Vanguard Group Inc. now owns 9,394,723 shares of the utilities provider’s stock valued at $478,285,000 after acquiring an additional 187,521 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of PNM Resources by 66.6% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 320,800 shares of the utilities provider’s stock valued at $16,332,000 after acquiring an additional 128,200 shares in the last quarter. 90.37% of the stock is currently owned by institutional investors.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.

Featured Story: Why Dividend Stocks May Be Right for You

Get a free copy of the Zacks research report on PNM Resources (PNM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for PNM Resources (NYSE:PNM)

Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

6 Meridian Cuts Holdings in Cisco Systems, Inc.
6 Meridian Cuts Holdings in Cisco Systems, Inc.
47,795 Shares in Danaher Co.  Acquired by 6 Meridian
47,795 Shares in Danaher Co. Acquired by 6 Meridian
6 Meridian Buys 18,311 Shares of Citigroup Inc
6 Meridian Buys 18,311 Shares of Citigroup Inc
Teladoc Health  to Release Quarterly Earnings on Wednesday
Teladoc Health to Release Quarterly Earnings on Wednesday
Lakeland Financial  Set to Announce Quarterly Earnings on Friday
Lakeland Financial Set to Announce Quarterly Earnings on Friday
6 Meridian Sells 566 Shares of Metlife Inc
6 Meridian Sells 566 Shares of Metlife Inc


 
© 2006-2019 Zolmax.