Brokerages expect that PNM Resources Inc (NYSE:PNM) will post earnings of $0.16 per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for PNM Resources’ earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at $0.15. PNM Resources reported earnings of $0.24 per share during the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The company is scheduled to issue its next quarterly earnings report on Tuesday, February 26th.
According to Zacks, analysts expect that PNM Resources will report full-year earnings of $1.96 per share for the current financial year, with EPS estimates ranging from $1.93 to $1.98. For the next year, analysts expect that the firm will report earnings of $2.13 per share, with EPS estimates ranging from $2.12 to $2.14. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover PNM Resources.
PNM Resources (NYSE:PNM) last issued its earnings results on Tuesday, November 6th. The utilities provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. PNM Resources had a return on equity of 9.25% and a net margin of 6.08%. The business had revenue of $422.67 million during the quarter, compared to analyst estimates of $483.08 million. During the same period in the previous year, the company posted $0.93 EPS.
PNM has been the subject of a number of research analyst reports. Zacks Investment Research raised PNM Resources from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Thursday, August 2nd. Bank of America boosted their target price on PNM Resources from $36.00 to $39.00 and gave the company an “underperform” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. PNM Resources currently has an average rating of “Hold” and an average target price of $38.63.
PNM Resources stock traded down $0.09 during midday trading on Friday, reaching $40.61. The stock had a trading volume of 701,672 shares, compared to its average volume of 472,346. PNM Resources has a 12 month low of $33.75 and a 12 month high of $46.00. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 4.44 and a beta of 0.16. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.37 and a quick ratio of 0.27.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, November 1st. PNM Resources’s dividend payout ratio is currently 54.64%.
A number of institutional investors and hedge funds have recently modified their holdings of PNM. Royal Bank of Canada increased its holdings in PNM Resources by 71.7% during the 1st quarter. Royal Bank of Canada now owns 20,792 shares of the utilities provider’s stock worth $794,000 after purchasing an additional 8,685 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in PNM Resources by 631.7% during the 1st quarter. Allianz Asset Management GmbH now owns 223,783 shares of the utilities provider’s stock worth $8,560,000 after purchasing an additional 193,201 shares in the last quarter. Dalton Greiner Hartman Maher & Co. bought a new stake in PNM Resources during the 2nd quarter worth approximately $323,000. Fox Run Management L.L.C. bought a new stake in PNM Resources during the 2nd quarter worth approximately $878,000. Finally, Nisa Investment Advisors LLC increased its holdings in PNM Resources by 5.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 50,640 shares of the utilities provider’s stock worth $1,970,000 after purchasing an additional 2,700 shares in the last quarter. 90.90% of the stock is owned by hedge funds and other institutional investors.
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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