Brokerages Expect PNM Resources Inc (NYSE:PNM) Will Announce Earnings of $0.31 Per Share

Brokerages expect PNM Resources Inc (NYSE:PNM) to report $0.31 earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for PNM Resources’ earnings. PNM Resources posted earnings of $0.18 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 72.2%. The firm is scheduled to issue its next earnings report on Wednesday, February 26th.

On average, analysts expect that PNM Resources will report full-year earnings of $2.10 per share for the current financial year, with EPS estimates ranging from $2.09 to $2.10. For the next year, analysts expect that the business will post earnings of $2.21 per share, with EPS estimates ranging from $2.19 to $2.22. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for PNM Resources.

PNM Resources (NYSE:PNM) last released its earnings results on Friday, November 1st. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. PNM Resources had a positive return on equity of 9.18% and a negative net margin of 0.64%. The firm had revenue of $433.59 million for the quarter, compared to analyst estimates of $562.33 million. During the same period in the previous year, the company earned $1.08 earnings per share.

Several equities analysts have recently issued reports on PNM shares. Barclays raised shares of PNM Resources from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $52.00 to $51.00 in a research note on Thursday, November 21st. UBS Group increased their target price on shares of PNM Resources from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. SunTrust Banks increased their target price on shares of PNM Resources from $49.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, September 30th. ValuEngine upgraded shares of PNM Resources from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Co restated a “hold” rating on shares of PNM Resources in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. PNM Resources currently has a consensus rating of “Hold” and an average price target of $52.14.

NYSE PNM traded up $0.37 on Thursday, reaching $48.37. The company’s stock had a trading volume of 12,130 shares, compared to its average volume of 327,340. PNM Resources has a twelve month low of $39.51 and a twelve month high of $52.98. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.28 and a current ratio of 0.36. The firm’s 50 day moving average is $49.83 and its two-hundred day moving average is $50.12. The stock has a market cap of $3.86 billion, a PE ratio of 24.18, a PEG ratio of 4.13 and a beta of 0.15.

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.29 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.40%. PNM Resources’s dividend payout ratio (DPR) is 58.00%.

A number of institutional investors and hedge funds have recently modified their holdings of PNM. TRUE Private Wealth Advisors acquired a new stake in PNM Resources during the 2nd quarter worth about $28,000. Trust Co. of Vermont lifted its stake in PNM Resources by 411.0% during the second quarter. Trust Co. of Vermont now owns 1,865 shares of the utilities provider’s stock valued at $95,000 after buying an additional 1,500 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of PNM Resources by 54.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,058 shares of the utilities provider’s stock worth $105,000 after buying an additional 723 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of PNM Resources in the third quarter worth about $153,000. Finally, Meeder Asset Management Inc. increased its position in shares of PNM Resources by 18.7% in the second quarter. Meeder Asset Management Inc. now owns 3,076 shares of the utilities provider’s stock worth $157,000 after acquiring an additional 485 shares in the last quarter. 90.69% of the stock is currently 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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Earnings History and Estimates for PNM Resources (NYSE:PNM)

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