Exelon Corporation (EXC) Releases Earnings Results, Misses Expectations By $0.01 EPS
Exelon Corporation (NYSE:EXC) issued its earnings results on Thursday. The energy giant reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.01), Bloomberg Earnings reports. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.58 billion. Exelon Corporation had a net margin of 5.41% and a return on equity of 8.47%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Exelon Corporation updated its FY17 guidance to $2.55-2.75 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be issued a $0.3275 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.31 annualized dividend and a yield of 3.26%. Exelon Corporation’s dividend payout ratio is currently 68.59%.
A number of equities research analysts have recently issued reports on EXC shares. KeyCorp reaffirmed a “buy” rating and issued a $41.00 target price on shares of Exelon Corporation in a report on Friday, September 1st. BidaskClub raised shares of Exelon Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Citigroup Inc. raised shares of Exelon Corporation from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $43.00 in a report on Thursday, July 27th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $41.00 target price on shares of Exelon Corporation in a report on Monday, July 17th. Finally, ValuEngine raised shares of Exelon Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $40.43.
In other Exelon Corporation news, EVP Paymon Aliabadi sold 13,333 shares of Exelon Corporation stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $38.31, for a total value of $510,787.23. Following the sale, the executive vice president now owns 39,769 shares of the company’s stock, valued at $1,523,550.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kenneth W. Cornew sold 25,000 shares of Exelon Corporation stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $37.44, for a total transaction of $936,000.00. Following the completion of the sale, the executive vice president now directly owns 28,363 shares in the company, valued at approximately $1,061,910.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,212,787 shares of company stock worth $48,570,909. Insiders own 0.70% of the company’s stock.
About Exelon Corporation
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.
Receive News & Ratings for Exelon Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelon Corporation and related companies with MarketBeat.com's FREE daily email newsletter.