PPL Corporation (NYSE:PPL) released its quarterly earnings results on Wednesday. The utilities provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03, Bloomberg Earnings reports. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s revenue was down 2.3% on a year-over-year basis. PPL Corporation updated its FY17 guidance to $2.10-2.25 EPS.
PPL has been the topic of a number of analyst reports. BidaskClub lowered PPL Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Wednesday, July 12th. Jefferies Group LLC upgraded PPL Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $39.50 to $42.00 in a research report on Wednesday, July 19th. Finally, ValuEngine upgraded PPL Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. PPL Corporation currently has an average rating of “Hold” and a consensus target price of $39.35.
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In related news, SVP Joanne H. Raphael sold 35,651 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $39.50, for a total value of $1,408,214.50. Following the sale, the senior vice president now directly owns 52,450 shares of the company’s stock, valued at $2,071,775. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by company insiders.
PPL Corporation Company Profile
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
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