PPL Co. (PPL) Updates FY14 Earnings Guidance
PPL Co. (NYSE:PPL) updated its FY14 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.15-2.30 for the period, compared to the Thomson Reuters consensus estimate of $2.24, Stock Ratings News reports.
A number of analysts have recently weighed in on PPL shares. Analysts at RBC Capital raised their price target on shares of PPL from $31.00 to $34.00 in a research note on Friday, May 9th. On a related note, analysts at Jefferies Group raised their price target on shares of PPL from $37.00 to $38.00 in a research note on Friday, May 2nd. Finally, analysts at Zacks reiterated a neutral rating on shares of PPL in a research note on Tuesday, April 29th. They now have a $35.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $34.67.
PPL Co. (NYSE:PPL) traded up 0.89% on Friday, hitting $35.09. 4,447,558 shares of the company’s stock traded hands. PPL Co. has a 52-week low of $28.44 and a 52-week high of $34.87. The stock has a 50-day moving average of $33.59 and a 200-day moving average of $31.59. The company has a market cap of $22.168 billion and a P/E ratio of 21.71. PPL also saw a large drop in short interest in May. As of May 15th, there was short interest totalling 8,189,880 shares, a drop of 39.6% from the April 30th total of 13,558,003 shares. Based on an average daily trading volume, of 5,058,095 shares, the short-interest ratio is currently 1.6 days. Approximately 1.3% of the company’s stock are sold short.
PPL (NYSE:PPL) last released its earnings data on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.09. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, analysts predict that PPL Co. will post $2.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a dividend of $0.3725 per share. This represents a $1.49 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Friday, June 6th.
PPL Corporation (NYSE:PPL) is an energy and utility holding company.
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