Q3 2016 Earnings Forecast for PNM Resources Inc. Issued By KeyCorp (PNM)
PNM Resources Inc. (NYSE:PNM) – Equities research analysts at KeyCorp issued their Q3 2016 earnings estimates for PNM Resources in a report released on Monday. KeyCorp analyst P. Ridzon expects that the brokerage will post earnings per share of $0.74 for the quarter.
PNM has been the topic of several other research reports. SunTrust Banks Inc. dropped their target price on PNM Resources from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, August 29th. Jefferies Group restated a “buy” rating and set a $37.50 target price on shares of PNM Resources in a research report on Thursday, September 29th. Zacks Investment Research upgraded PNM Resources from a “sell” rating to a “hold” rating in a research report on Thursday, September 15th. TheStreet downgraded PNM Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Finally, Williams Capital reiterated a “hold” rating on shares of PNM Resources in a research report on Wednesday, September 21st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $36.21.
PNM Resources (NYSE:PNM) traded up 0.077% during midday trading on Wednesday, hitting $32.325. The company’s stock had a trading volume of 111,945 shares. The stock has a 50 day moving average of $32.41 and a 200 day moving average of $33.03. PNM Resources has a 52-week low of $26.56 and a 52-week high of $36.15. The company has a market cap of $2.57 billion, a PE ratio of 355.220 and a beta of 0.38.
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PNM Resources (NYSE:PNM) last released its quarterly earnings results on Monday, August 8th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The firm had revenue of $315.39 million for the quarter, compared to analyst estimates of $379 million. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s revenue was down 10.6% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in PNM. Creative Planning increased its stake in PNM Resources by 119.6% in the second quarter. Creative Planning now owns 2,875 shares of the company’s stock worth $102,000 after buying an additional 1,566 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of PNM Resources by 514.3% in the first quarter. Meeder Asset Management Inc. now owns 3,686 shares of the company’s stock worth $124,000 after buying an additional 3,086 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of PNM Resources during the second quarter worth about $163,000. LS Investment Advisors LLC boosted its position in shares of PNM Resources by 72.6% in the second quarter. LS Investment Advisors LLC now owns 4,754 shares of the company’s stock worth $168,000 after buying an additional 2,000 shares during the period. Finally, Boothbay Fund Management LLC bought a new position in shares of PNM Resources during the first quarter worth about $200,000. Institutional investors and hedge funds own 92.58% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.88 dividend on an annualized basis and a yield of 2.72%. PNM Resources’s payout ratio is 1,100.00%.
PNM Resources Company Profile
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
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