Argus Downgrades PG&E Co. to Hold (PCG)
PG&E Co. (NYSE:PCG) was downgraded by analysts at Argus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports.
Shares of PG&E Co. (NYSE:PCG) opened at 45.85 on Friday. PG&E Co. has a one year low of $39.42 and a one year high of $48.64. The stock’s 50-day moving average is $45.83 and its 200-day moving average is $44.91. The company has a market cap of $21.614 billion and a price-to-earnings ratio of 28.33.
PG&E Co. (NYSE:PCG) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.74 by $0.05. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that PG&E Co. will post $3.03 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of PG&E Co. from $46.00 to $47.00 in a research note on Wednesday. Separately, analysts at CRT Capital reiterated a “buy” rating on shares of PG&E Co. in a research note on Friday, August 1st. They now have a $49.00 price target on the stock, down previously from $50.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of PG&E Co. in a research note on Friday, August 1st. They now have a $49.00 price target on the stock, up previously from $47.00. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $47.82.
PG&E Corporation is a holding company that conducts its business through Pacific Gas and Electric Company (NYSE:PCG).
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