PNM Resources (NYSE:PNM) updated its FY20 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.16-2.22 for the period, compared to the Thomson Reuters consensus estimate of $2.17. PNM Resources also updated its FY 2020
Pre-Market guidance to 2.16-2.26 EPS.
Several research analysts have commented on the stock. Wells Fargo & Co restated a hold rating on shares of PNM Resources in a research report on Friday, May 1st. Royal Bank of Canada restated a hold rating and issued a $46.00 target price on shares of PNM Resources in a research report on Thursday, April 30th. Barclays upgraded shares of PNM Resources from an equal weight rating to an overweight rating and decreased their price objective for the company from $47.00 to $44.00 in a report on Friday, May 15th. Zacks Investment Research cut shares of PNM Resources from a buy rating to a hold rating and set a $41.00 price objective for the company. in a report on Tuesday, May 26th. Finally, Bank of America decreased their price objective on shares of PNM Resources from $47.00 to $43.00 and set a buy rating for the company in a report on Monday, May 4th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $45.89.
Shares of NYSE:PNM opened at $41.94 on Friday. PNM Resources has a one year low of $27.08 and a one year high of $56.14. The company has a 50 day moving average of $39.30 and a 200-day moving average of $43.52. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.26 and a quick ratio of 0.19. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 3.07 and a beta of 0.56.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 7th will be given a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Thursday, August 6th. PNM Resources’s dividend payout ratio is 56.94%.
About PNM Resources
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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