PNM Resources, Inc. (Holding Co.) (PNM) Expected to Post FY2018 Earnings of $1.73 Per Share

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) – Equities researchers at Jefferies Group cut their FY2018 earnings per share (EPS) estimates for PNM Resources, Inc. (Holding Co.) in a report released on Wednesday. Jefferies Group analyst A. Crowdell now forecasts that the utilities provider will post earnings of $1.73 per share for the year, down from their prior forecast of $1.75. Jefferies Group currently has a “Hold” rating and a $43.00 target price on the stock. Jefferies Group also issued estimates for PNM Resources, Inc. (Holding Co.)’s FY2019 earnings at $2.02 EPS.

PNM has been the subject of a number of other research reports. Zacks Investment Research downgraded PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. Argus reissued a “buy” rating and issued a $41.40 target price (down previously from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a report on Friday, August 11th. BidaskClub raised PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Royal Bank Of Canada set a $39.00 target price on PNM Resources, Inc. (Holding Co.) and gave the company a “buy” rating in a report on Saturday, June 3rd. Finally, KeyCorp reissued a “hold” rating on shares of PNM Resources, Inc. (Holding Co.) in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $37.77.

TRADEMARK VIOLATION WARNING: This piece was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://ledgergazette.com/2017/09/17/pnm-resources-inc-holding-co-pnm-expected-to-post-fy2018-earnings-of-1-73-per-share.html.

Shares of PNM Resources, Inc. (PNM) traded up 0.35% during midday trading on Thursday, reaching $42.55. 313,742 shares of the company traded hands. The stock’s 50-day moving average is $40.73 and its 200-day moving average is $38.30. The stock has a market capitalization of $3.39 billion, a P/E ratio of 24.45 and a beta of 0.31. PNM Resources, Inc. has a 1-year low of $30.95 and a 1-year high of $42.85.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last issued its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.45 by $0.04. The company had revenue of $362.32 million during the quarter. PNM Resources, Inc. (Holding Co.) had a net margin of 10.05% and a return on equity of 8.57%. During the same period in the previous year, the firm posted $0.40 EPS.

The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Thursday, August 3rd. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio is currently 55.43%.

In other news, Director Norman P. Becker purchased 2,500 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was acquired at an average price of $38.98 per share, for a total transaction of $97,450.00. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $223,433.36. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Patrick V. Apodaca sold 5,333 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $40.43, for a total value of $215,613.19. Following the completion of the transaction, the senior vice president now owns 65,009 shares of the company’s stock, valued at approximately $2,628,313.87. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of PNM Resources, Inc. (Holding Co.) by 16,661.9% in the first quarter. BlackRock Inc. now owns 8,489,239 shares of the utilities provider’s stock worth $314,103,000 after buying an additional 8,438,593 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of PNM Resources, Inc. (Holding Co.) by 4.6% in the first quarter. Vanguard Group Inc. now owns 7,082,734 shares of the utilities provider’s stock worth $262,061,000 after buying an additional 308,821 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of PNM Resources, Inc. (Holding Co.) by 5.2% in the first quarter. Alliancebernstein L.P. now owns 2,928,634 shares of the utilities provider’s stock worth $108,359,000 after buying an additional 144,125 shares in the last quarter. State Street Corp boosted its position in shares of PNM Resources, Inc. (Holding Co.) by 3.6% in the second quarter. State Street Corp now owns 2,816,088 shares of the utilities provider’s stock worth $107,715,000 after buying an additional 98,535 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of PNM Resources, Inc. (Holding Co.) by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,723,894 shares of the utilities provider’s stock worth $100,784,000 after buying an additional 147,047 shares in the last quarter. Institutional investors and hedge funds own 95.15% of the company’s stock.

About PNM Resources, Inc. (Holding Co.)

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.

Earnings History and Estimates for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

Receive News & Ratings for PNM Resources Inc. (Holding Co.) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources Inc. (Holding Co.) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply