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
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.
