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.
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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