PNM Resources (NYSE:PNM) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.95-1.98 for the period, compared to the Thomson Reuters consensus estimate of $1.94. PNM Resources also updated its FY 2018 guidance to $1.95-1.98 EPS.
Several analysts recently issued reports on PNM shares. Zacks Investment Research upgraded PNM Resources from a hold rating to a buy rating and set a $44.00 price objective for the company in a report on Thursday, August 2nd. Bank of America cut their price objective on PNM Resources from $38.00 to $36.00 and set an underperform rating for the company in a report on Tuesday, October 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $38.63.
Shares of PNM Resources stock traded up $0.03 during trading on Thursday, reaching $40.70. The company’s stock had a trading volume of 420,001 shares, compared to its average volume of 521,204. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.34. The firm has a market capitalization of $3.13 billion, a PE ratio of 20.98, a PEG ratio of 4.33 and a beta of 0.16. PNM Resources has a one year low of $33.75 and a one year high of $46.00.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Thursday, November 1st. PNM Resources’s dividend payout ratio (DPR) is presently 54.64%.
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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.
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