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.
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