PNM Resources Inc (PNM) Expected to Post Earnings of $0.16 Per Share

Wall Street analysts expect PNM Resources Inc (NYSE:PNM) to post earnings of $0.16 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for PNM Resources’ earnings. The lowest EPS estimate is $0.15 and the highest is $0.17. PNM Resources posted earnings of $0.24 per share during the same quarter last year, which suggests a negative year over year growth rate of 33.3%. The firm is scheduled to announce its next 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 fiscal year, analysts expect that the company will post earnings of $2.13 per share, with EPS estimates ranging from $2.12 to $2.14. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow PNM Resources.

PNM Resources (NYSE:PNM) last released its earnings results on Tuesday, November 6th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.04. The company had revenue of $422.67 million for the quarter, compared to analyst estimates of $483.08 million. PNM Resources had a net margin of 6.08% and a return on equity of 9.25%. During the same period in the prior year, the firm earned $0.93 EPS.

Several research analysts have recently weighed in on PNM shares. Zacks Investment Research upgraded shares of PNM Resources from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Thursday, August 2nd. Bank of America increased 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. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $38.63.

Shares of PNM stock traded down $0.09 during trading hours on Friday, hitting $40.61. 701,672 shares of the company were exchanged, compared to its average volume of 472,346. The firm has a market cap of $3.24 billion, a P/E ratio of 20.93, a PEG ratio of 4.44 and a beta of 0.16. PNM Resources has a 1 year low of $33.75 and a 1 year high of $46.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.37 and a quick ratio of 0.27.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be issued 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 2.61%. PNM Resources’s payout ratio is currently 54.64%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hartford Investment Management Co. acquired a new stake in PNM Resources during the 2nd quarter worth approximately $207,000. Engineers Gate Manager LP acquired a new stake in PNM Resources during the 3rd quarter worth approximately $216,000. Sun Life Financial INC acquired a new stake in PNM Resources during the 2nd quarter worth approximately $224,000. Commonwealth Bank of Australia acquired a new stake in PNM Resources during the 3rd quarter worth approximately $319,000. Finally, Dalton Greiner Hartman Maher & Co. acquired a new stake in PNM Resources during the 2nd quarter worth approximately $323,000. 90.90% of the stock is owned by hedge funds and other institutional investors.

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.

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Earnings History and Estimates for PNM Resources (NYSE:PNM)

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