$0.31 EPS Expected for PNM Resources Inc (NYSE:PNM) This Quarter

Equities research analysts forecast that PNM Resources Inc (NYSE:PNM) will announce earnings of $0.31 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for PNM Resources’ earnings. PNM Resources reported earnings of $0.18 per share during the same quarter last year, which suggests a positive year over year growth rate of 72.2%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 26th.

On average, analysts expect that PNM Resources will report full year earnings of $2.10 per share for the current fiscal year, with EPS estimates ranging from $2.09 to $2.10. For the next financial year, analysts anticipate that the firm will report earnings of $2.21 per share, with EPS estimates ranging from $2.19 to $2.22. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow PNM Resources.

PNM Resources (NYSE:PNM) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. PNM Resources had a positive return on equity of 9.18% and a negative net margin of 0.64%. The firm had revenue of $433.59 million during the quarter, compared to analysts’ expectations of $562.33 million. During the same quarter in the prior year, the business posted $1.08 earnings per share.

Several analysts recently commented on the stock. ValuEngine upgraded shares of PNM Resources from a “sell” rating to a “hold” rating in a research note on Tuesday. Bank of America upgraded shares of PNM Resources from a “neutral” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, September 30th. Barclays upgraded shares of PNM Resources from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $52.00 to $51.00 in a research report on Thursday, November 21st. Wells Fargo & Co reissued a “hold” rating on shares of PNM Resources in a research note on Friday, November 1st. Finally, TheStreet upgraded PNM Resources from a “c+” rating to a “b-” rating in a report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $52.14.

Several hedge funds have recently added to or reduced their stakes in PNM. Millennium Management LLC grew its holdings in PNM Resources by 475.8% during the 3rd quarter. Millennium Management LLC now owns 259,806 shares of the utilities provider’s stock valued at $13,530,000 after buying an additional 214,687 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of PNM Resources by 595.0% in the third quarter. Squarepoint Ops LLC now owns 35,717 shares of the utilities provider’s stock valued at $1,860,000 after acquiring an additional 30,578 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of PNM Resources during the third quarter valued at $23,436,000. California State Teachers Retirement System boosted its stake in shares of PNM Resources by 1.2% during the third quarter. California State Teachers Retirement System now owns 123,920 shares of the utilities provider’s stock valued at $6,454,000 after acquiring an additional 1,450 shares during the last quarter. Finally, Stifel Financial Corp increased its position in PNM Resources by 2.2% during the 3rd quarter. Stifel Financial Corp now owns 80,153 shares of the utilities provider’s stock worth $4,174,000 after purchasing an additional 1,732 shares in the last quarter. Institutional investors and hedge funds own 90.69% of the company’s stock.

Shares of NYSE:PNM traded down $0.37 on Thursday, reaching $48.83. 335,400 shares of the company were exchanged, compared to its average volume of 384,416. The company has a 50-day moving average of $49.69 and a 200-day moving average of $50.13. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 1.48. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 4.13 and a beta of 0.15. PNM Resources has a 1-year low of $39.51 and a 1-year high of $52.98.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Thursday, October 31st. PNM Resources’s dividend payout ratio (DPR) is presently 58.00%.

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.

Recommended Story: How can investors benefit from after-hours trading?

Get a free copy of the Zacks research report on PNM Resources (PNM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit