PPL Given “Neutral” Rating at Zacks (PPL)
PPL (NYSE:PPL)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Monday. They currently have a $35.00 target price on the stock. Zacks‘s price objective would suggest a potential upside of 5.61% from the stock’s previous close.
Zacks’ analyst wrote, “In second-quarter 2014, PPL Corporation’s earnings per share surpassed the Zacks Consensus Estimate and improved from the prior-year figure primarily on the back of strong contribution from Supply segment. Gradual improvement in commercial and industrial sales in Kentucky and growth in reseidential customer counts in Pennsylvania will likely boost the company’s forthcoming performance. The company’s steady focus on transmission projects backed by strong liqudity position will enable it to provide reliable services to its customers. We appreciate the company’s steady cost-curtailment intiatives, which will subesquently boost future margins. However, stringent regulations and several operational risks are causes of concern. Thus, we are maintaining our Neutral recommendation on the stock.”
PPL (NYSE:PPL) traded down 1.99% during mid-day trading on Monday, hitting $32.48. The stock had a trading volume of 2,987,652 shares. PPL has a 1-year low of $28.95 and a 1-year high of $35.56. The stock’s 50-day moving average is $34.0 and its 200-day moving average is $32.89. The company has a market cap of $21.579 billion and a price-to-earnings ratio of 25.22.
PPL (NYSE:PPL) last announced its earnings results on Thursday, July 31st. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.09. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter last year, the company posted $0.49 earnings per share. PPL’s revenue was down 16.7% compared to the same quarter last year. On average, analysts predict that PPL will post $2.26 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on PPL. Analysts at RBC Capital raised their price target on shares of PPL from $34.00 to $35.00 in a research note on Monday. Separately, analysts at Barclays reiterated an “overweight” rating on shares of PPL in a research note on Friday. They now have a $40.00 price target on the stock, up previously from $38.00. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of PPL in a research note on Friday. They now have a $37.00 price target on the stock, down previously from $38.50. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. PPL presently has a consensus rating of “Buy” and an average target price of $35.44.
PPL Corporation (NYSE:PPL) is an energy and utility holding company.
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