Q1 2024 EPS Estimates for Exelon Co. Lowered by Zacks Research (NASDAQ:EXC)

Exelon Co. (NASDAQ:EXC) – Equities research analysts at Zacks Research reduced their Q1 2024 earnings per share (EPS) estimates for Exelon in a report issued on Wednesday, May 1st. Zacks Research analyst J. Saha now forecasts that the company will earn $0.70 per share for the quarter, down from their previous forecast of $0.71. The consensus estimate for Exelon’s current full-year earnings is $2.41 per share. Zacks Research also issued estimates for Exelon’s Q2 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.61 EPS, Q2 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.60 EPS, Q1 2026 earnings at $0.73 EPS and FY2026 earnings at $2.75 EPS.

Exelon (NASDAQ:EXC) last issued its earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share for the quarter, topping 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 return on equity of 9.27% and a net margin of 10.44%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 earnings per share.

Other analysts also recently issued research reports about the stock. TheStreet downgraded shares of Exelon from a “b-” rating to a “c+” rating in a research report on Wednesday, February 7th. BMO Capital Markets lifted their price target on Exelon from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday. Seaport Res Ptn cut Exelon from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Bank of America reduced their price objective on Exelon from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Finally, Scotiabank lowered their target price on shares of Exelon from $39.00 to $37.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.83.

Exelon Stock Performance

Exelon stock opened at $37.41 on Friday. Exelon has a 12-month low of $33.35 and a 12-month high of $43.53. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.03 and a quick ratio of 0.73. The company has a market capitalization of $37.39 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The firm’s fifty day moving average price is $36.94 and its 200 day moving average price is $37.03.

Exelon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, May 10th. Exelon’s dividend payout ratio is presently 65.52%.

Institutional Investors Weigh In On Exelon

Hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its stake in Exelon by 8.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 134,371 shares of the company’s stock worth $5,078,000 after purchasing an additional 10,006 shares during the period. Xponance Inc. boosted its position in shares of Exelon by 4.3% in the third quarter. Xponance Inc. now owns 126,256 shares of the company’s stock worth $4,771,000 after buying an additional 5,232 shares during the period. Raymond James & Associates grew its holdings in shares of Exelon by 4.7% during the third quarter. Raymond James & Associates now owns 372,976 shares of the company’s stock valued at $14,095,000 after buying an additional 16,874 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Exelon by 9.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 179,514 shares of the company’s stock valued at $6,784,000 after buying an additional 15,621 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its stake in Exelon by 22.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 14,274 shares of the company’s stock worth $539,000 after acquiring an additional 2,652 shares in the last quarter. 80.92% of the stock is owned by hedge funds and other institutional investors.

About Exelon

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.