PPL (PPL) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS
PPL (NYSE:PPL) posted its quarterly earnings results on Thursday. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.09, Stock Ratings Network.com reports. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. PPL updated its FY14 guidance to $2.20-2.40 EPS.
PPL (NYSE:PPL) traded down 0.69% during mid-day trading on Thursday, hitting $32.901. 2,091,951 shares of the company’s stock traded hands. PPL has a 52-week low of $28.95 and a 52-week high of $35.56. The stock has a 50-day moving average of $34.11 and a 200-day moving average of $32.87. The company has a market cap of $20.785 billion and a P/E ratio of 20.68.
Several analysts have recently commented on the stock. Analysts at Macquarie cut their price target on shares of PPL from $35.50 to $35.00 in a research note on Monday, July 21st. On the ratings front, analysts at Ladenburg Thalmann upgraded shares of PPL from a “neutral” rating to a “buy” rating in a research note on Thursday, June 12th. Finally, analysts at Bank of America reiterated a “buy” rating on shares of PPL in a research note on Wednesday, June 11th. They now have a $36.00 price target on the stock, down previously from $39.00. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. PPL presently has a consensus rating of “Hold” and an average target price of $35.28.
PPL Corporation (NYSE:PPL) is an energy and utility holding company.
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