Zacks Research Analysts Increase Earnings Estimates for Exelon Co. (NASDAQ:EXC)

Exelon Co. (NASDAQ:EXC – Get Rating) – Analysts at Zacks Research lifted their Q2 2023 earnings estimates for shares of Exelon in a research note issued on Wednesday, May 24th. Zacks Research analyst J. Saha now forecasts that the company will post earnings per share of $0.48 for the quarter, up from their prior forecast of $0.47. The consensus estimate for Exelon’s current full-year earnings is $2.35 per share. Zacks Research also issued estimates for Exelon’s FY2023 earnings at $2.34 EPS, Q3 2024 earnings at $0.67 EPS and FY2024 earnings at $2.52 EPS.

A number of other brokerages have also recently commented on EXC. StockNews.com assumed coverage on shares of Exelon in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Morgan Stanley increased their price target on shares of Exelon from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, April 20th. BMO Capital Markets cut their price objective on Exelon from $46.00 to $44.00 in a research report on Thursday. Mizuho lowered their target price on Exelon from $46.00 to $45.00 in a report on Tuesday, May 16th. Finally, Wells Fargo & Company cut their price target on Exelon from $47.00 to $45.00 in a report on Wednesday, February 15th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.30.

Exelon Stock Down 0.3 %

EXC opened at $39.39 on Friday. Exelon has a one year low of $35.19 and a one year high of $49.86. The company has a market cap of $39.18 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 2.56 and a beta of 0.62. The business’s fifty day moving average is $41.73 and its two-hundred day moving average is $41.71. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.96.

Exelon (NASDAQ:EXC – Get Rating) last issued its earnings results on Wednesday, May 3rd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Exelon had a net margin of 11.61% and a return on equity of 9.41%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share.

Exelon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Monday, May 15th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, May 12th. This represents a $1.44 annualized dividend and a yield of 3.66%. Exelon’s dividend payout ratio is presently 64.00%.

Insider Transactions at Exelon

In other Exelon news, CEO Carim V. Khouzami sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $41.65, for a total transaction of $249,900.00. Following the completion of the sale, the chief executive officer now directly owns 4,498 shares in the company, valued at $187,341.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. WealthPlan Investment Management LLC acquired a new position in Exelon during the 1st quarter worth approximately $25,000. Cowa LLC purchased a new position in shares of Exelon in the third quarter valued at $26,000. BerganKDV Wealth Management LLC grew its holdings in Exelon by 767.1% during the 1st quarter. BerganKDV Wealth Management LLC now owns 633 shares of the company’s stock valued at $27,000 after purchasing an additional 560 shares in the last quarter. Concord Wealth Partners purchased a new stake in Exelon during the 4th quarter worth $29,000. Finally, Independence Bank of Kentucky lifted its holdings in Exelon by 133.3% in the 4th quarter. Independence Bank of Kentucky now owns 700 shares of the company’s stock worth $30,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 80.60% of the company’s stock.

About Exelon

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Exelon Corp. is a utility services holding company, which engages in the energy distribution and transmission businesses. It operates through the following segments: Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL), and Atlantic City Electric Company (ACE).