PNM Resources (NYSE:PNM) Releases FY19 Earnings Guidance

PNM Resources (NYSE:PNM) issued an update on its FY19 earnings guidance on Friday morning. The company provided earnings per share guidance of $2.05-2.11 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.15.

Shares of NYSE PNM opened at $50.40 on Friday. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 4.28 and a beta of 0.29. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. PNM Resources has a 52-week low of $37.17 and a 52-week high of $52.10. The firm has a 50 day moving average price of $49.82.

PNM Resources (NYSE:PNM) last announced its earnings results on Tuesday, May 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $349.65 million for the quarter, compared to analyst estimates of $273.12 million. PNM Resources had a return on equity of 8.68% and a net margin of 6.10%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, analysts predict that PNM Resources will post 2.16 EPS for the current fiscal year.

A number of research firms have recently weighed in on PNM. Mizuho set a $88.00 price objective on Gilead Sciences and gave the stock a buy rating in a research report on Friday, May 10th. Williams Capital reaffirmed a hold rating on shares of Southwest Gas in a research report on Monday, March 18th. UBS Group lowered to a sell rating and upped their price objective for the stock from GBX 530 ($6.93) to GBX 540 ($7.06) in a research report on Wednesday, June 12th. Wells Fargo & Co reaffirmed a buy rating on shares of Allergan in a research report on Monday, June 10th. Finally, Bank of America raised Air Products & Chemicals from an underperform rating to a neutral rating and upped their price objective for the stock from $170.00 to $215.00 in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $48.28.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment is primarily involved in the generation, transmission, and distribution of electricity.

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Earnings History and Estimates for PNM Resources (NYSE:PNM)

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