Exelon Co. (EXC) Expected to Announce Quarterly Sales of $7.75 Billion
Wall Street brokerages expect Exelon Co. (NYSE:EXC) to report $7.75 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Exelon’s earnings. The lowest sales estimate is $7.61 billion and the highest is $7.89 billion. Exelon reported sales of $6.91 billion in the same quarter last year, which would suggest a positive year over year growth rate of 12.2%. The business is scheduled to report its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Exelon will report full-year sales of $7.75 billion for the current year, with estimates ranging from $26.43 billion to $34.83 billion. For the next year, analysts forecast that the firm will post sales of $31.95 billion per share, with estimates ranging from $27.06 billion to $35.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Exelon.
Exelon (NYSE:EXC) last posted its quarterly earnings data on Wednesday, May 3rd. The energy giant reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The firm had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.69 billion. Exelon had a net margin of 3.59% and a return on equity of 9.24%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS.
A number of equities research analysts recently issued reports on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $37.00 price target on shares of Exelon in a research note on Thursday, May 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $39.50 price target on shares of Exelon in a research note on Thursday, April 20th. Citigroup Inc upped their price target on shares of Exelon from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, April 3rd. Credit Suisse Group AG assumed coverage on shares of Exelon in a research note on Wednesday, January 25th. They set an “outperform” rating and a $39.00 price target on the stock. Finally, Morgan Stanley downgraded shares of Exelon from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $40.00 to $37.00 in a research note on Tuesday, March 28th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $38.73.
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Exelon (NYSE:EXC) traded up 2.164% during mid-day trading on Friday, hitting $34.225. 2,610,700 shares of the stock traded hands. The company’s 50 day moving average is $35.34 and its 200 day moving average is $34.83. The company has a market cap of $31.70 billion, a P/E ratio of 16.290 and a beta of 0.26. Exelon has a 12 month low of $29.82 and a 12 month high of $37.70.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Monday, May 15th will be paid a $0.3275 dividend. This represents a $1.31 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Thursday, May 11th. Exelon’s dividend payout ratio is currently 106.50%.
In other news, SVP Duane M. Desparte sold 5,000 shares of the stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $35.82, for a total value of $179,100.00. Following the sale, the senior vice president now owns 9,914 shares of the company’s stock, valued at $355,119.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. bought 3,000 shares of Exelon stock in a transaction dated Thursday, May 11th. The stock was purchased at an average cost of $33.57 per share, for a total transaction of $100,710.00. Following the purchase, the director now owns 14,374 shares of the company’s stock, valued at approximately $482,535.18. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BKD Wealth Advisors LLC increased its stake in shares of Exelon by 12.6% in the first quarter. BKD Wealth Advisors LLC now owns 9,845 shares of the energy giant’s stock valued at $354,000 after buying an additional 1,105 shares in the last quarter. Allianz Asset Management AG increased its position in Exelon by 18.4% in the fourth quarter. Allianz Asset Management AG now owns 2,097,562 shares of the energy giant’s stock valued at $74,442,000 after buying an additional 325,314 shares in the last quarter. Credit Agricole S A increased its position in Exelon by 24.6% in the fourth quarter. Credit Agricole S A now owns 538,362 shares of the energy giant’s stock valued at $19,107,000 after buying an additional 106,388 shares in the last quarter. Morgan Stanley increased its position in Exelon by 11.5% in the third quarter. Morgan Stanley now owns 3,801,651 shares of the energy giant’s stock valued at $126,557,000 after buying an additional 391,983 shares in the last quarter. Finally, State Street Corp increased its position in Exelon by 0.5% in the fourth quarter. State Street Corp now owns 55,922,259 shares of the energy giant’s stock valued at $1,984,678,000 after buying an additional 298,425 shares in the last quarter. 75.83% of the stock is currently owned by institutional investors and hedge funds.
Exelon Company Profile
Exelon Corporation is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. The Company, through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), is engaged in the energy delivery businesses.
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