PNM Resources (NYSE:PNM) updated its FY18 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.82-1.92 for the period, compared to the Thomson Reuters consensus estimate of $1.87. PNM Resources also updated its FY19 guidance to $2.04-2.16 EPS.
Several research firms have recently weighed in on PNM. Zacks Investment Research cut shares of PNM Resources from a buy rating to a hold rating in a research report on Tuesday, December 26th. SunTrust Banks restated a hold rating and set a $39.00 price objective on shares of PNM Resources in a research report on Tuesday, December 26th. Mizuho restated a sell rating and set a $30.50 price objective on shares of PNM Resources in a research report on Thursday, January 11th. UBS began coverage on shares of PNM Resources in a research report on Friday, February 2nd. They set a sell rating and a $36.00 price objective on the stock. Finally, Royal Bank of Canada restated a hold rating and set a $40.00 price objective on shares of PNM Resources in a research report on Thursday, February 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. PNM Resources has an average rating of Hold and an average price target of $38.66.
PNM Resources stock traded up $0.10 during mid-day trading on Monday, hitting $37.10. 305,680 shares of the company traded hands, compared to its average volume of 747,869. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.35. PNM Resources has a 52 week low of $33.75 and a 52 week high of $46.00. The company has a market cap of $2,947.18, a price-to-earnings ratio of 37.10, a P/E/G ratio of 3.45 and a beta of 0.34.
PNM Resources (NYSE:PNM) last released its earnings results on Tuesday, February 27th. The utilities provider reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. PNM Resources had a net margin of 5.55% and a return on equity of 8.71%. The company had revenue of $332.61 million for the quarter, compared to analyst estimates of $330.25 million. During the same quarter last year, the firm earned $0.34 EPS. equities analysts predict that PNM Resources will post 1.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 16th. Investors of record on Wednesday, May 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Tuesday, May 1st. PNM Resources’s dividend payout ratio is currently 106.00%.
In other PNM Resources news, SVP Ronald N. Darnell sold 3,162 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $35.95, for a total value of $113,673.90. Following the sale, the senior vice president now owns 29,726 shares of the company’s stock, valued at approximately $1,068,649.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Joseph Don Tarry sold 2,954 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $35.70, for a total transaction of $105,457.80. Following the completion of the sale, the vice president now directly owns 13,845 shares in the company, valued at approximately $494,266.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,616 shares of company stock worth $272,457. 1.26% of the stock is owned by insiders.
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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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