PPL Corporation (PPL) to Post Q4 2017 Earnings of $0.48 Per Share, SunTrust Banks Forecasts
PPL Corporation (NYSE:PPL) – Equities research analysts at SunTrust Banks lowered their Q4 2017 earnings estimates for shares of PPL Corporation in a report issued on Wednesday. SunTrust Banks analyst A. Agha now anticipates that the utilities provider will post earnings per share of $0.48 for the quarter, down from their prior estimate of $0.52. SunTrust Banks currently has a “Buy” rating and a $43.00 price target on the stock.
PPL Corporation (NYSE:PPL) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $2.03 billion. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. TRADEMARK VIOLATION NOTICE: “PPL Corporation (PPL) to Post Q4 2017 Earnings of $0.48 Per Share, SunTrust Banks Forecasts” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/11/02/ppl-corporation-ppl-to-post-q4-2017-earnings-of-0-48-per-share-suntrust-banks-forecasts.html.
Several other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of PPL Corporation from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, September 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $43.50 target price (up previously from $42.00) on shares of PPL Corporation in a report on Wednesday, August 9th. BidaskClub raised shares of PPL Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 18th. KeyCorp reaffirmed a “hold” rating on shares of PPL Corporation in a report on Friday, October 20th. Finally, ValuEngine raised shares of PPL Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.35.
A number of institutional investors and hedge funds have recently bought and sold shares of PPL. Parallel Advisors LLC raised its holdings in PPL Corporation by 7.6% in the second quarter. Parallel Advisors LLC now owns 4,570 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 321 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of PPL Corporation by 5.5% during the first quarter. IHT Wealth Management LLC now owns 5,243 shares of the utilities provider’s stock worth $197,000 after purchasing an additional 274 shares during the period. Tufton Capital Management acquired a new stake in shares of PPL Corporation during the second quarter worth $208,000. Green Square Capital LLC acquired a new stake in shares of PPL Corporation during the first quarter worth $211,000. Finally, Pinebridge Investments L.P. acquired a new stake in shares of PPL Corporation during the second quarter worth $224,000. 71.37% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Joanne H. Raphael sold 35,651 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $39.50, for a total value of $1,408,214.50. Following the completion of the transaction, the senior vice president now directly owns 52,450 shares in the company, valued at $2,071,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by corporate insiders.
PPL Corporation Company Profile
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
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