PNM Resources (NYSE:PNM) Releases FY20 Earnings Guidance

PNM Resources (NYSE:PNM) issued an update on its FY20 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.16-2.26 for the period, compared to the Thomson Reuters consensus estimate of $2.21. PNM Resources also updated its FY 2020
IntraDay guidance to 2.16-2.26 EPS.

NYSE PNM opened at $46.58 on Friday. The firm’s fifty day simple moving average is $43.60 and its two-hundred day simple moving average is $49.22. The company has a current ratio of 0.30, a quick ratio of 0.22 and a debt-to-equity ratio of 1.51. PNM Resources has a 12-month low of $27.08 and a 12-month high of $56.14. The firm has a market capitalization of $3.53 billion, a P/E ratio of 48.52, a P/E/G ratio of 3.38 and a beta of 0.60.

PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.03. PNM Resources had a net margin of 5.11% and a return on equity of 9.68%. The business had revenue of $408.32 million during the quarter, compared to the consensus estimate of $471.49 million. During the same period in the previous year, the firm posted $0.18 earnings per share. As a group, sell-side analysts predict that PNM Resources will post 2.21 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be paid a dividend of $0.308 per share. This is an increase from PNM Resources’s previous quarterly dividend of $0.31. This represents a $1.23 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Thursday, April 30th. PNM Resources’s payout ratio is presently 56.94%.

PNM has been the subject of several research reports. Royal Bank of Canada reiterated a hold rating and set a $46.00 price objective on shares of PNM Resources in a research note on Wednesday. UBS Group upgraded shares of PNM Resources from a neutral rating to a buy rating and lowered their price objective for the stock from $59.00 to $49.00 in a research note on Wednesday, April 1st. Wells Fargo & Co decreased their target price on shares of PNM Resources from $48.00 to $40.00 and set an equal weight rating for the company in a research report on Thursday, April 2nd. Zacks Investment Research upgraded shares of PNM Resources from a sell rating to a hold rating and set a $54.00 target price for the company in a research report on Friday, December 20th. Finally, Mizuho lifted their price objective on shares of PNM Resources from $54.00 to $55.00 and gave the company a buy rating in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $49.44.

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

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