Zacks: Brokerages Expect PNM Resources Inc (PNM) to Announce $0.17 EPS

Share on StockTwits

Analysts expect PNM Resources Inc (NYSE:PNM) to announce $0.17 earnings per share for the current quarter, according to Zacks. Zero analysts have issued estimates for PNM Resources’ earnings, with the highest EPS estimate coming in at $0.19 and the lowest estimate coming in at $0.15. PNM Resources posted earnings of $0.24 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 29.2%. The company is scheduled to issue its next earnings report before the market opens on Wednesday, February 27th.

According to Zacks, analysts expect that PNM Resources will report full-year earnings of $1.98 per share for the current financial year, with EPS estimates ranging from $1.97 to $2.00. For the next fiscal year, analysts expect that the company will report earnings of $2.13 per share, with EPS estimates ranging from $2.12 to $2.14. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover PNM Resources.

Several brokerages have commented on PNM. Barclays raised their price objective on shares of PNM Resources from $38.00 to $39.00 and gave the stock a “sell” rating in a report on Monday, November 19th. Bank of America raised their price objective on shares of PNM Resources from $36.00 to $39.00 and gave the stock an “underperform” rating in a report on Wednesday, November 7th. Mizuho lowered shares of PNM Resources from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $39.50 to $38.50 in a report on Monday, January 14th. Finally, Zacks Investment Research lowered shares of PNM Resources from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.25.

A number of institutional investors and hedge funds have recently modified their holdings of PNM. IFP Advisors Inc lifted its holdings in shares of PNM Resources by 32.9% during the fourth quarter. IFP Advisors Inc now owns 1,720 shares of the utilities provider’s stock valued at $70,000 after purchasing an additional 426 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of PNM Resources by 1.8% during the fourth quarter. Advisors Asset Management Inc. now owns 26,882 shares of the utilities provider’s stock valued at $1,105,000 after purchasing an additional 481 shares during the last quarter. Comerica Bank lifted its holdings in shares of PNM Resources by 1.2% during the fourth quarter. Comerica Bank now owns 52,292 shares of the utilities provider’s stock valued at $2,194,000 after purchasing an additional 598 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of PNM Resources by 1.1% during the fourth quarter. Arizona State Retirement System now owns 57,171 shares of the utilities provider’s stock valued at $2,349,000 after purchasing an additional 613 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of PNM Resources by 38.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,925 shares of the utilities provider’s stock valued at $162,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

Shares of NYSE PNM traded down $0.16 during trading hours on Monday, hitting $42.74. The company’s stock had a trading volume of 242,591 shares, compared to its average volume of 362,333. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.37 and a quick ratio of 0.29. The stock has a market capitalization of $3.42 billion, a PE ratio of 22.03, a PEG ratio of 4.29 and a beta of 0.30. PNM Resources has a 12 month low of $34.30 and a 12 month high of $45.35.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, February 1st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, January 31st. This is a positive change from PNM Resources’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 2.71%. PNM Resources’s dividend payout ratio (DPR) is 59.79%.

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.

Further Reading: Is the Dow Jones Industrial Average (DJIA) still relevant?

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

68,404 Shares in HCI Group Inc  Acquired by WINTON GROUP Ltd
68,404 Shares in HCI Group Inc Acquired by WINTON GROUP Ltd
WINTON GROUP Ltd Has $4.16 Million Holdings in Western Digital Corp
WINTON GROUP Ltd Has $4.16 Million Holdings in Western Digital Corp
Blocktrade Token  Reaches Market Capitalization of $1.14 Million
Blocktrade Token Reaches Market Capitalization of $1.14 Million
Wiley BROS. Aintree Capital LLC Buys New Holdings in National Health Investors Inc
Wiley BROS. Aintree Capital LLC Buys New Holdings in National Health Investors Inc
86,639 Shares in Triplepoint Venture Growth BDC Corp  Acquired by Wiley BROS. Aintree Capital LLC
86,639 Shares in Triplepoint Venture Growth BDC Corp Acquired by Wiley BROS. Aintree Capital LLC
Wealthsource Partners LLC Increases Stake in iShares Barclays 1-3 Year Treasry Bnd Fd
Wealthsource Partners LLC Increases Stake in iShares Barclays 1-3 Year Treasry Bnd Fd


Leave a Reply

 
© 2006-2019 Zolmax.