PNM Resources (NYSE:PNM) Issues FY 2022 Earnings Guidance

PNM Resources (NYSE:PNMGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $2.50-$2.60 for the period, compared to the consensus EPS estimate of $2.50. The company issued revenue guidance of -. PNM Resources also updated its FY 2023 guidance to $2.60-$2.75 EPS.

Separately, StockNews.com began coverage on shares of PNM Resources in a research note on Thursday, March 31st. They set a hold rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $49.33.

Shares of PNM opened at $44.82 on Monday. The company has a current ratio of 0.45, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. The firm’s 50-day moving average is $46.81 and its two-hundred day moving average is $46.02. PNM Resources has a twelve month low of $43.43 and a twelve month high of $50.11. The firm has a market capitalization of $3.85 billion, a P/E ratio of 19.83, a PEG ratio of 3.99 and a beta of 0.46.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors lifted its stake in shares of PNM Resources by 14.8% during the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock valued at $125,000 after buying an additional 339 shares during the period. Virtu Financial LLC purchased a new position in shares of PNM Resources during the fourth quarter valued at approximately $218,000. Jane Street Group LLC purchased a new position in shares of PNM Resources during the third quarter valued at approximately $239,000. LPL Financial LLC purchased a new position in shares of PNM Resources during the fourth quarter valued at approximately $278,000. Finally, Ancora Advisors LLC purchased a new position in shares of PNM Resources during the first quarter valued at approximately $378,000. 86.59% of the stock is currently owned by institutional investors.

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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