PG&E (PCG) Scheduled to Post Quarterly Earnings on Thursday

PG&E (NYSE:PCG) is set to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect PG&E to post earnings of $0.35 per share for the quarter. PG&E has set its FY 2024 guidance at 1.330-1.370 EPS and its FY24 guidance at $1.33-$1.37 EPS.Investors interested in listening to the company’s conference call can do so using this link.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. PG&E had a net margin of 9.24% and a return on equity of 10.84%. The company had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. On average, analysts expect PG&E to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

PG&E Price Performance

Shares of NYSE PCG opened at $16.96 on Wednesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83. The stock has a market cap of $36.24 billion, a price-to-earnings ratio of 16.15 and a beta of 1.32. PG&E has a fifty-two week low of $14.71 and a fifty-two week high of $18.32. The firm’s 50-day simple moving average is $16.55 and its 200 day simple moving average is $16.88.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date was Wednesday, March 27th. PG&E’s payout ratio is 3.81%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Barclays lowered their price objective on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, January 22nd. JPMorgan Chase & Co. increased their price objective on shares of PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, The Goldman Sachs Group initiated coverage on shares of PG&E in a report on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and an average target price of $18.89.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.