UBS Group began coverage on shares of PNM Resources (NYSE:PNM) in a report released on Friday, www.benzinga.com reports. The firm set a “sell” rating and a $36.00 price target on the utilities provider’s stock. UBS Group’s target price points to a potential downside of 1.37% from the stock’s current price.
PNM has been the subject of several other research reports. Royal Bank of Canada restated a “hold” rating and set a $40.00 target price on shares of PNM Resources in a research note on Thursday. Mizuho restated a “sell” rating and set a $30.50 target price on shares of PNM Resources in a research note on Thursday, January 11th. SunTrust Banks set a $36.00 target price on PNM Resources and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Bank of America assumed coverage on PNM Resources in a research note on Tuesday, October 24th. They set an “underperform” rating and a $38.00 target price for the company. Finally, Zacks Investment Research cut PNM Resources from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. PNM Resources currently has a consensus rating of “Hold” and an average target price of $39.53.
Shares of PNM Resources (PNM) traded down $0.35 on Friday, hitting $36.50. The stock had a trading volume of 562,774 shares, compared to its average volume of 854,520. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.25. The stock has a market cap of $2,935.24, a PE ratio of 18.34, a PEG ratio of 3.68 and a beta of 0.26. PNM Resources has a fifty-two week low of $34.30 and a fifty-two week high of $46.00.
ILLEGAL ACTIVITY WARNING: “PNM Resources (PNM) Coverage Initiated by Analysts at UBS Group” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/02/03/pnm-resources-pnm-coverage-initiated-by-analysts-at-ubs-group.html.
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.
Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.