PG&E (NYSE:PCG) Updates FY 2021 Pre-Market Earnings Guidance

PG&E (NYSE:PCG) issued an update on its FY 2021
Pre-Market earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.95-1.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.66. PG&E also updated its FY 2020
Pre-Market guidance to 1.60-1.63 EPS.

PCG has been the subject of several research reports. Goldman Sachs Group initiated coverage on PG&E in a research report on Sunday, July 26th. They issued a buy rating and a $14.00 target price for the company. Seaport Global Securities initiated coverage on shares of PG&E in a research report on Tuesday, June 23rd. They set a neutral rating for the company. Wells Fargo & Co reissued a hold rating on shares of PG&E in a research report on Tuesday, June 30th. Zacks Investment Research downgraded PG&E from a hold rating to a strong sell rating and set a $8.00 price target for the company. in a report on Tuesday, July 21st. Finally, Barclays raised their price objective on shares of PG&E from $15.00 to $16.00 in a research note on Wednesday, June 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $14.38.

PCG stock opened at $9.35 on Friday. The company has a market cap of $18.15 billion, a price-to-earnings ratio of -0.72, a P/E/G ratio of 2.31 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.20 and a current ratio of 1.28. The business’s 50-day moving average is $9.58 and its two-hundred day moving average is $11.75. PG&E has a fifty-two week low of $3.55 and a fifty-two week high of $19.18.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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. Equities analysts predict that PG&E will post 1.61 earnings per share for the current 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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