Jefferies Group Analysts Lift Earnings Estimates for Exelon Corp. (EXC)
Exelon Corp. (NYSE:EXC) – Research analysts at Jefferies Group lifted their FY2016 earnings per share estimates for Exelon Corp. in a research note issued on Monday. Jefferies Group analyst A. Crowdell now anticipates that the brokerage will post earnings per share of $2.60 for the year, up from their previous estimate of $2.50. Jefferies Group has a “Buy” rating and a $36.00 price objective on the stock.
Exelon Corp. (NYSE:EXC) last issued its quarterly earnings data on Tuesday, August 9th. The energy giant reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.09. The firm earned $6.90 billion during the quarter, compared to analysts’ expectations of $7.30 billion. Exelon Corp. had a net margin of 4.58% and a return on equity of 8.52%. Exelon Corp.’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share.
Other equities analysts have also issued reports about the stock. Deutsche Bank AG upgraded shares of Exelon Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $36.00 to $39.00 in a report on Friday, July 22nd. Bank of America Corp. restated a “hold” rating and issued a $37.00 price objective on shares of Exelon Corp. in a report on Thursday, August 11th. Zacks Investment Research upgraded shares of Exelon Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 25th. Morgan Stanley set a $38.00 target price on shares of Exelon Corp. and gave the stock a “hold” rating in a report on Thursday, August 11th. Finally, Barclays PLC cut their target price on shares of Exelon Corp. from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $36.33.
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Shares of Exelon Corp. (NYSE:EXC) traded up 0.31% during midday trading on Wednesday, reaching $32.25. 1,639,245 shares of the company were exchanged. Exelon Corp. has a 52-week low of $25.09 and a 52-week high of $37.70. The stock has a 50-day moving average price of $33.72 and a 200 day moving average price of $34.83. The company has a market capitalization of $29.76 billion, a P/E ratio of 21.59 and a beta of 0.25.
Several hedge funds and other institutional investors have recently made changes to their positions in EXC. Lazard Asset Management LLC increased its position in shares of Exelon Corp. by 16.2% in the first quarter. Lazard Asset Management LLC now owns 771,013 shares of the energy giant’s stock worth $27,647,000 after buying an additional 107,485 shares during the period. Meeder Asset Management Inc. increased its position in shares of Exelon Corp. by 13,381.3% in the first quarter. Meeder Asset Management Inc. now owns 40,444 shares of the energy giant’s stock worth $1,450,000 after buying an additional 40,144 shares during the period. BB&T Securities LLC increased its position in shares of Exelon Corp. by 376.0% in the first quarter. BB&T Securities LLC now owns 57,323 shares of the energy giant’s stock worth $2,055,000 after buying an additional 45,281 shares during the period. Bernicke & Associates LTD increased its position in shares of Exelon Corp. by 5.5% in the first quarter. Bernicke & Associates LTD now owns 27,905 shares of the energy giant’s stock worth $1,001,000 after buying an additional 1,454 shares during the period. Finally, Credit Agricole S A increased its position in shares of Exelon Corp. by 47.9% in the first quarter. Credit Agricole S A now owns 708,490 shares of the energy giant’s stock worth $25,407,000 after buying an additional 229,439 shares during the period. 74.90% of the stock is owned by institutional investors.
In other news, CEO Calvin Butler, Jr. sold 6,403 shares of Exelon Corp. stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $35.00, for a total value of $224,105.00. Following the completion of the transaction, the chief executive officer now owns 18,109 shares of the company’s stock, valued at approximately $633,815. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth W. Cornew sold 30,000 shares of Exelon Corp. stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $36.47, for a total transaction of $1,094,100.00. Following the completion of the transaction, the chief executive officer now directly owns 32,844 shares of the company’s stock, valued at approximately $1,197,820.68. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.
Exelon Corp. Company Profile
Exelon Corporation is a utility services holding company. The Company operates through nine segments consisting of Exelon Generation Company, LLC’s (Generation’s) six power marketing segments, including Mid-Atlantic, Midwest, New England, New York, ERCOT and other regions; Commonwealth Edison Company (ComEd); PECO Energy Company (PECO), and Baltimore Gas and Electric Company (BGE).
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