PNM Resources Inc (PNM) Expected to Post Earnings of $0.17 Per Share
Analysts expect PNM Resources Inc (NYSE:PNM) to announce earnings of $0.17 per share for the current quarter, Zacks reports. 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 reported earnings per share of $0.24 in the same quarter last year, which suggests a negative year over year growth rate of 29.2%. The company is expected to report its next earnings results before the market opens on Wednesday, February 27th.
On average, analysts expect that PNM Resources will report full-year earnings of $1.98 per share for the current year, with EPS estimates ranging from $1.97 to $2.00. For the next year, analysts forecast that the firm will post earnings of $2.13 per share, with EPS estimates ranging from $2.12 to $2.14. Zacks’ EPS averages are a mean average based on a survey of analysts that follow PNM Resources.
A number of equities research analysts recently commented on PNM shares. Zacks Investment Research raised shares of PNM Resources from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Saturday, January 12th. Bank of America reaffirmed an “underperform” rating and issued a $42.00 price target (up previously from $39.00) on shares of PNM Resources in a report on Tuesday, December 4th. Mizuho cut shares of PNM Resources from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $39.50 to $38.50 in a report on Monday, January 14th. Finally, Barclays boosted their target price on shares of PNM Resources from $38.00 to $39.00 and gave the company a “sell” rating in a report on Monday, November 19th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. PNM Resources has an average rating of “Hold” and a consensus price target of $40.25.
Shares of NYSE PNM traded down $0.16 during midday trading on Monday, reaching $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 quick ratio of 0.29, a current ratio of 0.37 and a debt-to-equity ratio of 1.17. The company 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 firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, February 1st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.71%. This is a positive change from PNM Resources’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 31st. PNM Resources’s dividend payout ratio is presently 59.79%.
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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