PNM Resources Inc (PNM) Expected to Announce Earnings of $0.17 Per Share
Wall Street brokerages expect that PNM Resources Inc (NYSE:PNM) will post earnings per share (EPS) of $0.17 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for PNM Resources’ earnings, with estimates ranging from $0.16 to $0.17. 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 business is expected to issue its next quarterly earnings results on Tuesday, February 26th.
According to Zacks, analysts expect that PNM Resources will report full year earnings of $1.96 per share for the current fiscal year, with EPS estimates ranging from $1.93 to $1.98. For the next year, analysts anticipate that the business will report earnings of $2.13 per share, with EPS estimates ranging from $2.12 to $2.14. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow PNM Resources.
PNM Resources (NYSE:PNM) last announced its quarterly earnings data on Tuesday, November 6th. The utilities provider reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.04. The firm had revenue of $422.67 million during the quarter, compared to analyst estimates of $483.08 million. PNM Resources had a return on equity of 9.34% and a net margin of 6.08%. During the same period last year, the company earned $0.93 earnings per share.
PNM stock traded up $0.03 during midday trading on Friday, reaching $40.70. The stock had a trading volume of 420,001 shares, compared to its average volume of 521,204. The company has a quick ratio of 0.27, a current ratio of 0.34 and a debt-to-equity ratio of 1.19. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 4.33 and a beta of 0.16. PNM Resources has a twelve month low of $33.75 and a twelve month high of $46.00.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, November 1st. This represents a $1.06 annualized dividend and a dividend yield of 2.60%. PNM Resources’s payout ratio is currently 54.64%.
Several institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. grew its position in shares of PNM Resources by 6.1% during the 3rd quarter. Alliancebernstein L.P. now owns 2,334,431 shares of the utilities provider’s stock worth $92,093,000 after buying an additional 135,215 shares during the period. Commonwealth Bank of Australia acquired a new position in shares of PNM Resources during the 3rd quarter worth about $319,000. JPMorgan Chase & Co. grew its position in shares of PNM Resources by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 322,498 shares of the utilities provider’s stock worth $12,722,000 after buying an additional 15,453 shares during the period. SG Americas Securities LLC grew its position in shares of PNM Resources by 334.9% during the 3rd quarter. SG Americas Securities LLC now owns 95,764 shares of the utilities provider’s stock worth $3,778,000 after buying an additional 73,746 shares during the period. Finally, Piermont Capital Management Inc. grew its position in shares of PNM Resources by 64.4% during the 3rd quarter. Piermont Capital Management Inc. now owns 59,680 shares of the utilities provider’s stock worth $2,354,000 after buying an additional 23,370 shares during the period. Institutional investors own 90.90% of the company’s stock.
About PNM Resources
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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