Exelon Corp. Rating Lowered to Underperform at Jefferies Group (EXC)
Exelon Corp. (NYSE:EXC) was downgraded by Jefferies Group from a “hold” rating to an “underperform” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $24.50 price objective on the stock, down from their previous price objective of $29.00. Jefferies Group’s price target suggests a potential downside of 12.41% from the company’s current price.
The analysts wrote, “We are downgrading Exelon to Underperform from Hold based on valuation. The company currently trades at a group average P/E but, in our view, should trade at a discount based on the significant contribution of supply and other low multiple businesses to Exelon Generation results. Additionally, the high cash spending of Exelon on nuclear fuel and maintenance results in very little free cash flow generated by the company.”
Exelon Corp. (NYSE:EXC) traded down 2.51% during mid-day trading on Wednesday, hitting $27.97. The stock had a trading volume of 17,273,240 shares. Exelon Corp. has a 1-year low of $28.40 and a 1-year high of $37.80. The stock has a 50-day moving average of $30.56 and a 200-day moving average of $32.53. The company has a market cap of $23.958 billion and a P/E ratio of 21.13.
Exelon Corp. (NYSE:EXC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.54 by $0.01. The company had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts expect that Exelon Corp. will post $2.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Wednesday, November 13th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley downgraded shares of Exelon Corp. from an “overweight” rating to an “underweight” rating in a research note to investors on Wednesday, October 16th. They now have a $21.00 price target on the stock, down previously from $36.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Exelon Corp. in a research note to investors on Thursday, October 10th. They now have a $31.00 price target on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Exelon Corp. from $32.00 to $30.00 in a research note to investors on Wednesday, October 2nd. They now have a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. Exelon Corp. currently has a consensus rating of “Hold” and an average price target of $32.10.
Exelon Corporation (NYSE:EXC) is an energy provider and holding company for several energy businesses.
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