PPL (NYSE:PPL) Updates FY20 Earnings Guidance

PPL (NYSE:PPL) issued an update on its FY20 earnings guidance on Friday morning. The company provided earnings per share guidance of $2.40-2.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.53. PPL also updated its FY 2021
Pre-Market guidance to 2.40-2.60 EPS.

Shares of NYSE PPL traded down $1.02 during midday trading on Friday, reaching $35.26. The company had a trading volume of 439,122 shares, compared to its average volume of 4,196,131. The business’s 50-day simple moving average is $35.94 and its 200 day simple moving average is $32.98. The stock has a market cap of $26.12 billion, a P/E ratio of 14.30 and a beta of 0.51. PPL has a 1 year low of $28.55 and a 1 year high of $36.83. The company has a current ratio of 0.66, a quick ratio of 0.58 and a debt-to-equity ratio of 1.81.

PPL (NYSE:PPL) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.04. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.08 billion. PPL had a net margin of 23.17% and a return on equity of 14.73%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. Analysts predict that PPL will post 2.42 earnings per share for the current year.

Several brokerages recently issued reports on PPL. Royal Bank of Canada reissued a hold rating and set a $33.00 target price on shares of PPL in a report on Monday, January 20th. Argus reissued a buy rating and set a $39.00 target price (up previously from $34.00) on shares of PPL in a report on Friday, January 10th. UBS Group raised their target price on shares of PPL from $49.00 to $51.00 and gave the stock a neutral rating in a report on Friday, January 10th. Macquarie raised shares of PPL from an underperform rating to a neutral rating and raised their target price for the stock from $27.00 to $32.50 in a report on Wednesday, October 23rd. Finally, Citigroup raised their target price on shares of PPL from $33.00 to $36.00 and gave the stock a neutral rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. PPL currently has an average rating of Hold and a consensus target price of $38.88.

In other news, CEO William H. Spence sold 388,968 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $34.32, for a total value of $13,349,381.76. Also, COO Vincent Sorgi sold 13,696 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.04, for a total transaction of $466,211.84. Following the completion of the sale, the chief operating officer now directly owns 30,976 shares in the company, valued at $1,054,423.04. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

PPL Company Profile

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.

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