PNM Resources’ (PNM) Sell Rating Reaffirmed at Mizuho

PNM Resources (NYSE:PNM)‘s stock had its “sell” rating reiterated by investment analysts at Mizuho in a research report issued to clients and investors on Thursday. They presently have a $30.50 price target on the utilities provider’s stock. Mizuho’s price target would indicate a potential downside of 19.21% from the stock’s previous close.

PNM has been the subject of a number of other reports. Zacks Investment Research lowered PNM Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Bank of America initiated coverage on PNM Resources in a research report on Tuesday, October 24th. They set an “underperform” rating and a $38.00 target price for the company. Williams Capital lowered PNM Resources from a “hold” rating to a “sell” rating and set a $38.00 target price for the company. in a research report on Monday, September 18th. SunTrust Banks set a $38.00 target price on PNM Resources and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Finally, Evercore ISI downgraded PNM Resources from an “in-line” rating to an “underperform” rating and set a $37.50 price target on the stock. in a report on Tuesday, September 26th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. PNM Resources has a consensus rating of “Hold” and an average target price of $39.37.

Shares of PNM Resources (PNM) opened at $37.75 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3,010.00, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 4.11 and a beta of 0.36. PNM Resources has a 1 year low of $33.35 and a 1 year high of $46.00.

PNM Resources (NYSE:PNM) last issued its earnings results on Friday, October 27th. The utilities provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.08. The business had revenue of $419.90 million during the quarter, compared to analyst estimates of $422.71 million. PNM Resources had a return on equity of 9.18% and a net margin of 11.27%. During the same period in the previous year, the company posted $0.78 EPS. equities research analysts predict that PNM Resources will post 1.86 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in PNM Resources by 16,661.9% during the 1st quarter. BlackRock Inc. now owns 8,489,239 shares of the utilities provider’s stock worth $314,103,000 after buying an additional 8,438,593 shares during the last quarter. Vanguard Group Inc. grew its stake in PNM Resources by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 7,082,734 shares of the utilities provider’s stock worth $262,061,000 after buying an additional 308,821 shares during the last quarter. BlackRock Fund Advisors grew its stake in PNM Resources by 5.6% during the 3rd quarter. BlackRock Fund Advisors now owns 4,283,370 shares of the utilities provider’s stock worth $140,152,000 after buying an additional 226,439 shares during the last quarter. Alliancebernstein L.P. grew its stake in PNM Resources by 2.2% during the 4th quarter. Alliancebernstein L.P. now owns 3,567,483 shares of the utilities provider’s stock worth $109,058,000 after buying an additional 75,871 shares during the last quarter. Finally, State Street Corp grew its stake in PNM Resources by 3.6% during the 2nd quarter. State Street Corp now owns 2,816,088 shares of the utilities provider’s stock worth $107,715,000 after buying an additional 98,535 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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PNM Resources Company Profile

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.

Analyst Recommendations for PNM Resources (NYSE:PNM)

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