Research Analysts Set Expectations for Exelon Corp.’s Q3 2016 Earnings (EXC)
Exelon Corp. (NYSE:EXC) – Research analysts at KeyCorp increased their Q3 2016 earnings per share estimates for shares of Exelon Corp. in a research report issued to clients and investors on Monday. KeyCorp analyst P. Ridzon now expects that the brokerage will post earnings of $0.74 per share for the quarter, up from their previous forecast of $0.72.
Exelon Corp. (NYSE:EXC) last posted its quarterly earnings data on Tuesday, August 9th. The energy giant reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.09. The business had revenue of $6.90 billion for the quarter, compared to the consensus estimate of $7.30 billion. Exelon Corp. had a net margin of 4.58% and a return on equity of 8.52%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share.
EXC has been the subject of several other research reports. Morgan Stanley set a $38.00 price target on shares of Exelon Corp. and gave the company a “hold” rating in a research report on Thursday, August 11th. Deutsche Bank AG upgraded shares of Exelon Corp. from a “hold” rating to a “buy” rating and upped their price target for the company from $36.00 to $39.00 in a research report on Friday, July 22nd. Jefferies Group reiterated a “buy” rating and issued a $36.00 price target (down previously from $40.00) on shares of Exelon Corp. in a research report on Monday, October 10th. Zacks Investment Research downgraded shares of Exelon Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Exelon Corp. from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Exelon Corp. presently has an average rating of “Hold” and an average price target of $36.33.
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Exelon Corp. (NYSE:EXC) traded down 0.76% during trading on Wednesday, reaching $32.84. 1,339,459 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $33.49 and its 200-day moving average price is $34.73. The stock has a market cap of $30.31 billion, a P/E ratio of 21.98 and a beta of 0.25. Exelon Corp. has a one year low of $25.09 and a one year high of $37.70.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in Exelon Corp. by 66.3% in the first quarter. Renaissance Technologies LLC now owns 1,966,400 shares of the energy giant’s stock worth $70,515,000 after buying an additional 784,276 shares during the period. Hancock Holding Co. raised its position in Exelon Corp. by 362.8% in the first quarter. Hancock Holding Co. now owns 450,609 shares of the energy giant’s stock worth $16,160,000 after buying an additional 353,251 shares during the period. Simmons Bank purchased a new position in Exelon Corp. during the first quarter worth about $1,172,000. Geode Capital Management LLC raised its position in Exelon Corp. by 0.7% in the first quarter. Geode Capital Management LLC now owns 8,151,213 shares of the energy giant’s stock worth $291,761,000 after buying an additional 58,544 shares during the period. Finally, Riverhead Capital Management LLC raised its position in Exelon Corp. by 146.7% in the first quarter. Riverhead Capital Management LLC now owns 1,084,197 shares of the energy giant’s stock worth $38,879,000 after buying an additional 644,661 shares during the period. Institutional investors own 74.92% of the company’s stock.
In other Exelon Corp. news, CEO Calvin Butler, Jr. sold 6,403 shares of the company’s 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 transaction, the chief executive officer now directly owns 18,109 shares in the company, valued at approximately $633,815. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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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