PNM Resources (NYSE:PNM) Issues FY22 Earnings Guidance

PNM Resources (NYSE:PNMGet Rating) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.50-2.60 for the period, compared to the consensus earnings per share estimate of $2.51. PNM Resources also updated its FY23 guidance to $2.60-2.75 EPS.

NYSE PNM traded down $0.17 on Tuesday, reaching $47.08. 503 shares of the stock traded hands, compared to its average volume of 492,443. PNM Resources has a 12 month low of $43.84 and a 12 month high of $50.11. The firm’s fifty day simple moving average is $47.20 and its 200 day simple moving average is $46.25. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 4.22 and a beta of 0.46. The company has a quick ratio of 0.34, a current ratio of 0.45 and a debt-to-equity ratio of 1.67.

PNM Resources (NYSE:PNMGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. The company had revenue of $444.12 million for the quarter, compared to the consensus estimate of $382.37 million. PNM Resources had a return on equity of 10.38% and a net margin of 10.68%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. As a group, equities research analysts forecast that PNM Resources will post 2.55 EPS for the current fiscal year.

PNM has been the topic of several recent analyst reports. StockNews.com started coverage on shares of PNM Resources in a research note on Thursday, March 31st. They set a hold rating on the stock. Mizuho upped their price target on shares of PNM Resources from $47.00 to $53.00 and gave the company a neutral rating in a research report on Wednesday, February 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $49.33.

Several institutional investors have recently modified their holdings of PNM. Great West Life Assurance Co. Can boosted its holdings in shares of PNM Resources by 8.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,260 shares of the utilities provider’s stock valued at $2,263,000 after acquiring an additional 3,493 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of PNM Resources by 1.6% during the first quarter. Yousif Capital Management LLC now owns 45,120 shares of the utilities provider’s stock valued at $2,151,000 after buying an additional 724 shares during the last quarter. Mackenzie Financial Corp increased its position in PNM Resources by 561.3% in the fourth quarter. Mackenzie Financial Corp now owns 38,383 shares of the utilities provider’s stock worth $1,751,000 after purchasing an additional 32,579 shares during the last quarter. Verition Fund Management LLC increased its position in PNM Resources by 13.7% in the first quarter. Verition Fund Management LLC now owns 36,004 shares of the utilities provider’s stock worth $1,716,000 after purchasing an additional 4,339 shares during the last quarter. Finally, Prelude Capital Management LLC boosted its stake in PNM Resources by 87.9% during the first quarter. Prelude Capital Management LLC now owns 27,924 shares of the utilities provider’s stock worth $1,331,000 after buying an additional 13,061 shares during the period. Institutional investors own 86.59% of the company’s stock.

About PNM Resources (Get Rating)

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services 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 engages in the generation, transmission, and distribution of electricity.

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