Equities research analysts predict that PNM Resources Inc (NYSE:PNM) will post $0.18 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for PNM Resources’ earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.23. PNM Resources posted earnings per share of $0.34 in the same quarter last year, which would suggest a negative year-over-year growth rate of 47.1%. The company is expected to report its next earnings report before the market opens on Tuesday, February 27th.
According to Zacks, analysts expect that PNM Resources will report full year earnings of $1.86 per share for the current fiscal year, with EPS estimates ranging from $1.85 to $1.90. For the next financial year, analysts forecast that the business will report earnings of $1.74 per share, with EPS estimates ranging from $1.70 to $1.75. Zacks’ earnings per share calculations are an average based on a survey of analysts that that provide coverage for PNM Resources.
PNM has been the topic of several recent analyst reports. Zacks Investment Research lowered PNM Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. SunTrust Banks reiterated a “hold” rating and issued a $39.00 price target on shares of PNM Resources in a research note on Tuesday, December 26th. Mizuho reiterated a “sell” rating and issued a $35.00 price target on shares of PNM Resources in a research note on Monday, October 30th. Finally, Bank of America initiated coverage on PNM Resources in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $38.00 price target on the stock. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $39.38.
Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its position in PNM Resources by 181.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,951 shares of the utilities provider’s stock worth $801,000 after acquiring an additional 13,495 shares during the last quarter. Van ECK Associates Corp bought a new stake in PNM Resources during the 3rd quarter worth $374,000. 361 Capital LLC bought a new stake in PNM Resources during the 3rd quarter worth $2,034,000. James Investment Research Inc. grew its position in PNM Resources by 15.6% during the 4th quarter. James Investment Research Inc. now owns 223,574 shares of the utilities provider’s stock worth $9,043,000 after acquiring an additional 30,172 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. bought a new stake in PNM Resources during the 3rd quarter worth $999,000. Institutional investors and hedge funds own 91.91% of the company’s stock.
Shares of PNM Resources (NYSE PNM) traded up $0.15 on Monday, hitting $35.75. The stock had a trading volume of 407,100 shares, compared to its average volume of 854,576. PNM Resources has a one year low of $33.75 and a one year high of $46.00. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.43 and a current ratio of 0.53. The company has a market cap of $2,847.62, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 3.57 and a beta of 0.26.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Thursday, January 18th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, January 17th. This represents a $1.06 dividend on an annualized basis and a yield of 2.97%. This is a positive change from PNM Resources’s previous quarterly dividend of $0.24. PNM Resources’s payout ratio is currently 53.27%.
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.
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