PNM Resources (NYSE:PNM) Announces Earnings Results

PNM Resources (NYSE:PNM) issued its quarterly earnings results on Tuesday. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.27), Briefing.com reports. PNM Resources had a return on equity of 9.99% and a net margin of 4.38%. The business had revenue of $436.90 million for the quarter, compared to analyst estimates of $531.00 million. During the same period in the previous year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was down 19.7% on a year-over-year basis. PNM Resources updated its FY24 guidance to $2.65-2.75 EPS.

PNM Resources Trading Up 0.9 %

Shares of PNM Resources stock opened at $37.38 on Thursday. The firm has a market capitalization of $3.37 billion, a PE ratio of 41.08, a price-to-earnings-growth ratio of 10.24 and a beta of 0.35. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.39 and a quick ratio of 0.31. The company’s fifty day moving average price is $37.03 and its two-hundred day moving average price is $39.26. PNM Resources has a 52-week low of $34.63 and a 52-week high of $48.71.

PNM Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a $0.387 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Thursday, April 25th. PNM Resources’s payout ratio is 170.33%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PNM shares. Mizuho lowered shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research note on Wednesday, January 3rd. Wells Fargo & Company upgraded shares of PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a report on Wednesday, January 3rd. TheStreet downgraded shares of PNM Resources from a “b-” rating to a “c+” rating in a report on Thursday, January 4th. Barclays lifted their price objective on shares of PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, StockNews.com lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, PNM Resources presently has a consensus rating of “Hold” and an average price target of $46.80.

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) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.