PG&E (NYSE:PCG) Updates FY 2020 Pre-Market Earnings Guidance

PG&E (NYSE:PCG) updated its FY 2020
Pre-Market earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.60-1.63 for the period, compared to the Thomson Reuters consensus estimate of $2.04. PG&E also updated its FY 2021
Pre-Market guidance to 0.95-1.05 EPS.

A number of analysts have recently commented on the company. Mizuho upped their target price on PG&E from $12.50 to $13.50 and gave the stock a buy rating in a research note on Wednesday, May 6th. They noted that the move was a valuation call. Barclays upped their target price on PG&E from $15.00 to $16.00 in a research note on Wednesday, June 10th. Bank of America assumed coverage on PG&E in a research note on Friday, June 5th. They issued a buy rating and a $14.00 target price on the stock. Wells Fargo & Co restated a hold rating on shares of PG&E in a research note on Tuesday, June 30th. Finally, Goldman Sachs Group started coverage on PG&E in a research report on Sunday, July 26th. They set a buy rating and a $14.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. PG&E has a consensus rating of Hold and an average target price of $14.38.

Shares of PG&E stock opened at $9.35 on Friday. The business has a 50 day simple moving average of $9.58 and a two-hundred day simple moving average of $11.75. PG&E has a 12 month low of $3.55 and a 12 month high of $19.18. The stock has a market capitalization of $18.15 billion, a P/E ratio of -0.72, a PEG ratio of 2.29 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.28 and a quick ratio of 1.20.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, July 30th. The utilities provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.35. PG&E had a positive return on equity of 30.85% and a negative net margin of 37.92%. The business had revenue of $4.53 billion during the quarter. As a group, research analysts anticipate that PG&E will post 1.62 EPS for the current fiscal year.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations.

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Earnings History and Estimates for PG&E (NYSE:PCG)

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