PNM Resources (NYSE:PNM) Releases FY 2024 Earnings Guidance

PNM Resources (NYSE:PNM) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.650-2.750 for the period, compared to the consensus EPS estimate of 2.680. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PNM shares. Mizuho cut PNM Resources from a buy rating to a neutral rating and set a $41.00 price objective for the company. in a research note on Wednesday, January 3rd. StockNews.com lowered shares of PNM Resources from a hold rating to a sell rating in a report on Wednesday, January 17th. TheStreet downgraded PNM Resources from a b- rating to a c+ rating in a report on Thursday, January 4th. Wells Fargo & Company raised PNM Resources from an equal weight rating to an overweight rating and set a $44.00 target price for the company in a report on Wednesday, January 3rd. Finally, Barclays assumed coverage on shares of PNM Resources in a report on Thursday, February 8th. They set an overweight rating and a $40.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, PNM Resources currently has a consensus rating of Hold and a consensus price target of $46.20.

PNM Resources Stock Up 1.4 %

PNM Resources stock opened at $37.44 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.39 and a debt-to-equity ratio of 1.77. The company has a 50 day moving average of $36.97 and a 200-day moving average of $40.53. The stock has a market capitalization of $3.38 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 0.37 and a beta of 0.35. PNM Resources has a twelve month low of $34.63 and a twelve month high of $49.08.

PNM Resources (NYSE:PNM) last released its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The business had revenue of $412.11 million during the quarter, compared to the consensus estimate of $705.05 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. During the same period in the previous year, the company posted $0.15 EPS. On average, equities research analysts anticipate that PNM Resources will post 2.71 EPS for the current fiscal year.

PNM Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a $0.387 dividend. This represents a $1.55 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, April 25th. PNM Resources’s dividend payout ratio (DPR) is presently 150.49%.

Institutional Trading of PNM Resources

Large investors have recently added to or reduced their stakes in the business. Point72 Middle East FZE acquired a new position in shares of PNM Resources in the 4th quarter valued at $302,000. Pathstone Holdings LLC acquired a new position in shares of PNM Resources in the fourth quarter worth about $267,000. Advisor Group Holdings Inc. grew its stake in shares of PNM Resources by 10.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 4,913 shares of the utilities provider’s stock worth $239,000 after purchasing an additional 459 shares in the last quarter. Creative Planning acquired a new stake in shares of PNM Resources during the 2nd quarter valued at $235,000. Finally, Shell Asset Management Co. acquired a new stake in shares of PNM Resources in the fourth quarter worth $231,000. 91.68% of the stock is currently owned by institutional investors.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM); Texas-New Mexico Power Company (TNMP); and Corporate and Other segments. The PNM segment engages in the generation, transmission, and distribution of electricity.