Q1 2018 EPS Estimates for PNM Resources Inc (PNM) Lowered by Analyst
PNM Resources Inc (NYSE:PNM) – Research analysts at SunTrust Banks lowered their Q1 2018 earnings per share (EPS) estimates for PNM Resources in a research note issued to investors on Monday. SunTrust Banks analyst A. Agha now expects that the utilities provider will earn $0.19 per share for the quarter, down from their prior forecast of $0.26. SunTrust Banks currently has a “Hold” rating and a $38.00 target price on the stock. SunTrust Banks also issued estimates for PNM Resources’ Q2 2018 earnings at $0.47 EPS and Q1 2019 earnings at $0.21 EPS.
PNM Resources (NYSE:PNM) last issued its earnings results on Friday, October 27th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.08. PNM Resources had a net margin of 11.27% and a return on equity of 9.18%. The company had revenue of $419.90 million during the quarter, compared to analysts’ expectations of $422.71 million. During the same period last year, the company posted $0.78 earnings per share.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of PNM Resources from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Wednesday, November 1st. Mizuho reaffirmed a “sell” rating and issued a $35.00 target price on shares of PNM Resources in a report on Monday, October 30th. Bank of America began coverage on shares of PNM Resources in a report on Tuesday, October 24th. They issued an “underperform” rating and a $38.00 target price for the company. Evercore ISI cut shares of PNM Resources from an “in-line” rating to an “underperform” rating and set a $37.50 target price for the company. in a report on Tuesday, September 26th. Finally, ValuEngine cut shares of PNM Resources from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. PNM Resources currently has an average rating of “Hold” and a consensus price target of $39.74.
Shares of PNM Resources (NYSE PNM) traded down $1.35 during trading on Tuesday, reaching $43.85. 535,200 shares of the company’s stock were exchanged, compared to its average volume of 582,568. PNM Resources has a 12 month low of $32.25 and a 12 month high of $46.00. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.43 and a current ratio of 0.53. The stock has a market capitalization of $3,600.34, a PE ratio of 22.16, a PEG ratio of 4.44 and a beta of 0.36.
Several institutional investors and hedge funds have recently modified their holdings of PNM. US Bancorp DE increased its stake in shares of PNM Resources by 23.7% during the 2nd quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock worth $181,000 after purchasing an additional 905 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of PNM Resources by 41.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 155,862 shares of the utilities provider’s stock worth $5,961,000 after purchasing an additional 45,741 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of PNM Resources during the 2nd quarter worth approximately $366,000. IFP Advisors Inc increased its stake in shares of PNM Resources by 42.2% during the 2nd quarter. IFP Advisors Inc now owns 4,247 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in PNM Resources by 1.5% during the second quarter. Arizona State Retirement System now owns 33,600 shares of the utilities provider’s stock worth $1,285,000 after acquiring an additional 500 shares during the last quarter. 92.55% of the stock is owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Thursday, January 18th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from PNM Resources’s previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, January 17th. PNM Resources’s dividend payout ratio (DPR) is 48.74%.
About PNM Resources
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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