Zacks: Analysts Expect PNM Resources, Inc. (Holding Co.) (PNM) to Post $0.20 EPS
Equities analysts predict that PNM Resources, Inc. (Holding Co.) (NYSE:PNM) will announce earnings per share (EPS) of $0.20 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for PNM Resources’ earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.17. PNM Resources posted earnings of $0.34 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 41.2%. The company is expected to report its next earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that PNM Resources will report full-year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.85 to $1.87. For the next fiscal year, analysts forecast that the firm will report earnings of $1.74 per share, with EPS estimates ranging from $1.71 to $1.75. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover PNM Resources.
PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.08. The firm had revenue of $419.90 million during the quarter, compared to analysts’ expectations of $422.71 million. PNM Resources had a net margin of 11.27% and a return on equity of 9.18%. During the same quarter in the previous year, the company earned $0.78 earnings per share.
Several hedge funds have recently made changes to their positions in the company. Zurich Insurance Group Ltd FI bought a new stake in PNM Resources during the second quarter worth $956,000. Public Employees Retirement System of Ohio raised its position in PNM Resources by 181.0% during the second quarter. Public Employees Retirement System of Ohio now owns 20,951 shares of the utilities provider’s stock worth $801,000 after acquiring an additional 13,495 shares in the last quarter. Wedge Capital Management L L P NC raised its position in PNM Resources by 19.0% during the second quarter. Wedge Capital Management L L P NC now owns 16,061 shares of the utilities provider’s stock worth $614,000 after acquiring an additional 2,568 shares in the last quarter. Nomura Holdings Inc. bought a new stake in PNM Resources during the second quarter worth $326,000. Finally, Adams Diversified Equity Fund Inc. bought a new stake in PNM Resources during the third quarter worth $999,000. 92.55% of the stock is currently owned by institutional investors and hedge funds.
PNM Resources (NYSE:PNM) opened at $44.75 on Wednesday. The stock has a market cap of $3,624.24, a P/E ratio of 22.30, a P/E/G ratio of 4.47 and a beta of 0.36. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.43 and a current ratio of 0.53. PNM Resources has a 1-year low of $31.15 and a 1-year high of $46.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Thursday, January 18th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Wednesday, January 17th. This is a positive change from PNM Resources’s previous quarterly dividend of $0.24. PNM Resources’s payout ratio is currently 48.74%.
About PNM Resources
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 (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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