Research Analysts Set Expectations for Exelon Co.’s FY2024 Earnings (NASDAQ:EXC)

Exelon Co. (NASDAQ:EXC) – Analysts at Seaport Res Ptn upped their FY2024 earnings per share estimates for shares of Exelon in a research report issued on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now expects that the company will earn $2.43 per share for the year, up from their previous forecast of $2.41. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Exelon’s current full-year earnings is $2.41 per share.

Exelon (NASDAQ:EXC) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $3.87 billion. Exelon had a net margin of 10.72% and a return on equity of 9.40%. Exelon’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share.

Several other research firms have also recently issued reports on EXC. Scotiabank cut their price objective on Exelon from $39.00 to $37.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. StockNews.com upgraded Exelon from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. Mizuho raised shares of Exelon from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $39.00 in a research note on Wednesday, January 10th. UBS Group lowered shares of Exelon from a “buy” rating to a “neutral” rating and decreased their price target for the company from $47.00 to $37.00 in a report on Tuesday, January 2nd. Finally, Bank of America cut their price target on shares of Exelon from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $38.92.

Exelon Trading Down 0.4 %

NASDAQ:EXC opened at $37.58 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.56. The stock’s 50 day simple moving average is $36.85 and its 200-day simple moving average is $37.03. Exelon has a 12-month low of $33.35 and a 12-month high of $43.53. The firm has a market cap of $37.56 billion, a P/E ratio of 16.13, a PEG ratio of 2.72 and a beta of 0.54.

Hedge Funds Weigh In On Exelon

A number of hedge funds have recently modified their holdings of EXC. Wellington Management Group LLP boosted its stake in Exelon by 2.6% in the fourth quarter. Wellington Management Group LLP now owns 93,146,101 shares of the company’s stock worth $3,343,945,000 after purchasing an additional 2,352,547 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Exelon by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,676,744 shares of the company’s stock valued at $819,164,000 after purchasing an additional 286,435 shares during the period. Legal & General Group Plc grew its position in shares of Exelon by 0.6% during the 3rd quarter. Legal & General Group Plc now owns 12,644,485 shares of the company’s stock worth $477,837,000 after buying an additional 78,316 shares during the period. Northern Trust Corp lifted its holdings in Exelon by 3.5% in the third quarter. Northern Trust Corp now owns 11,665,829 shares of the company’s stock valued at $440,852,000 after buying an additional 395,908 shares during the period. Finally, Norges Bank bought a new position in shares of Exelon in the 4th quarter worth $382,015,000. 80.92% of the stock is owned by institutional investors and hedge funds.

Exelon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a $0.38 dividend. This is a boost from Exelon’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, March 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.04%. Exelon’s dividend payout ratio is currently 65.24%.

Exelon Company Profile

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.