PNM Resources (NYSE:PNM)‘s stock had its “sell” rating reaffirmed by investment analysts at Mizuho in a report issued on Thursday. They currently have a $30.50 target price on the utilities provider’s stock. Mizuho’s target price indicates a potential downside of 19.21% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of PNM Resources from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. Wells Fargo & Co assumed coverage on shares of PNM Resources in a report on Friday, September 22nd. They set a “market perform” rating and a $42.00 price objective on the stock. Evercore ISI lowered shares of PNM Resources from an “in-line” rating to an “underperform” rating and set a $37.50 price objective on the stock. in a report on Tuesday, September 26th. SunTrust Banks set a $38.00 price objective on shares of PNM Resources and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Finally, Zacks Investment Research raised shares of PNM Resources from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, November 1st. Five research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $39.37.
Shares of PNM Resources (PNM) opened at $37.75 on Thursday. The stock has a market cap of $3,010.00, a PE ratio of 19.07, a P/E/G ratio of 4.11 and a beta of 0.36. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 1.25. PNM Resources has a 1 year low of $33.35 and a 1 year high of $46.00.
PNM Resources (NYSE:PNM) last announced its earnings results on Friday, October 27th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.08. The business had revenue of $419.90 million during the quarter, compared to analysts’ expectations of $422.71 million. PNM Resources had a net margin of 11.27% and a return on equity of 9.18%. During the same quarter last year, the company posted $0.78 EPS. analysts expect that PNM Resources will post 1.86 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of PNM. Flinton Capital Management LLC boosted its stake in shares of PNM Resources by 71.4% in the 2nd quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock valued at $169,000 after purchasing an additional 1,840 shares during the last quarter. Meeder Asset Management Inc. bought a new position in PNM Resources during the 3rd quarter worth approximately $170,000. World Asset Management Inc bought a new position in PNM Resources during the 3rd quarter worth approximately $206,000. Neuberger Berman Group LLC bought a new position in PNM Resources during the 2nd quarter worth approximately $209,000. Finally, LSV Asset Management bought a new position in PNM Resources during the 2nd quarter worth approximately $244,000. 92.21% of the stock is currently owned by institutional investors.
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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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