Exelon (NYSE:EXC) Posts Earnings Results, Misses Estimates By $0.03 EPS

Exelon (NYSE:EXC) released its quarterly earnings results on Thursday. The energy giant reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.03), Morningstar.com reports. Exelon had a return on equity of 8.85% and a net margin of 6.52%. The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same period last year, the firm earned $0.71 earnings per share. The business’s revenue was down 4.8% compared to the same quarter last year. Exelon updated its FY 2019 guidance to $3.00-3.30 EPS and its FY19 guidance to $3.00-3.30 EPS.

Shares of NYSE:EXC traded up $0.35 during midday trading on Friday, reaching $44.75. The company’s stock had a trading volume of 7,878,866 shares, compared to its average volume of 5,683,192. The firm has a market cap of $43.75 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 4.01 and a beta of 0.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.89 and a current ratio of 1.02. Exelon has a 1 year low of $42.14 and a 1 year high of $51.18. The company’s 50 day moving average is $48.29.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $0.363 dividend. This represents a $1.45 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, August 14th. Exelon’s dividend payout ratio is currently 46.47%.

A number of brokerages have recently commented on EXC. ValuEngine downgraded Exelon from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. KeyCorp began coverage on Exelon in a research report on Tuesday, June 4th. They issued a “sector weight” rating for the company. Barclays reaffirmed a “hold” rating and issued a $54.00 price objective on shares of Exelon in a research report on Wednesday, June 19th. Morgan Stanley lifted their price objective on Exelon from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, June 14th. Finally, Mizuho lifted their price objective on Exelon from $47.00 to $49.50 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Exelon presently has a consensus rating of “Hold” and a consensus price target of $49.96.

In other Exelon news, CEO Calvin Butler, Jr. sold 31,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $47.59, for a total transaction of $1,475,290.00. Following the completion of the sale, the chief executive officer now owns 40,331 shares of the company’s stock, valued at $1,919,352.29. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kenneth W. Cornew sold 54,300 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $49.82, for a total value of $2,705,226.00. Following the sale, the executive vice president now directly owns 97,813 shares of the company’s stock, valued at approximately $4,873,043.66. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. grew its position in Exelon by 3,771.2% during the first quarter. Rockefeller Capital Management L.P. now owns 30,195 shares of the energy giant’s stock valued at $1,514,000 after acquiring an additional 29,415 shares during the period. Capital Investment Advisors LLC purchased a new stake in Exelon during the second quarter valued at about $247,000. USS Investment Management Ltd grew its position in Exelon by 247.6% during the first quarter. USS Investment Management Ltd now owns 878,381 shares of the energy giant’s stock valued at $44,020,000 after acquiring an additional 625,681 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Exelon by 1.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,156,262 shares of the energy giant’s stock valued at $208,353,000 after acquiring an additional 70,124 shares during the period. Finally, Bank of Edwardsville purchased a new stake in Exelon during the first quarter valued at about $1,166,000. 79.67% of the stock is owned by hedge funds and other institutional investors.

Exelon Company Profile

Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, and solar generating facilities. The company also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.

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Earnings History for Exelon (NYSE:EXC)

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