Brokers Issue Forecasts for Exelon Co.’s Q2 2024 Earnings (NASDAQ:EXC)

Exelon Co. (NASDAQ:EXC) – Investment analysts at Zacks Research decreased their Q2 2024 earnings per share estimates for shares of Exelon in a report issued on Monday, April 8th. Zacks Research analyst J. Saha now forecasts that the company will post earnings per share of $0.48 for the quarter, down from their previous estimate of $0.49. The consensus estimate for Exelon’s current full-year earnings is $2.41 per share. Zacks Research also issued estimates for Exelon’s Q4 2024 earnings at $0.58 EPS, Q1 2025 earnings at $0.71 EPS, Q3 2025 earnings at $0.79 EPS, Q4 2025 earnings at $0.59 EPS, FY2025 earnings at $2.60 EPS, Q1 2026 earnings at $0.74 EPS and FY2026 earnings at $2.81 EPS.

EXC has been the subject of a number of other reports. Morgan Stanley downgraded shares of Exelon from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $45.00 to $38.00 in a research report on Monday, December 18th. Bank of America decreased their target price on Exelon from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Guggenheim downgraded shares of Exelon from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $44.00 to $40.00 in a report on Friday, December 15th. UBS Group downgraded Exelon from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $47.00 to $37.00 in a research report on Tuesday, January 2nd. Finally, Barclays raised their price objective on shares of Exelon from $36.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Exelon currently has an average rating of “Hold” and a consensus price target of $39.09.

Exelon Price Performance

Shares of NASDAQ EXC opened at $37.78 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $37.76 billion, a PE ratio of 16.21, a PEG ratio of 2.72 and a beta of 0.54. The stock’s 50 day moving average price is $35.98 and its 200-day moving average price is $37.21. Exelon has a twelve month low of $33.35 and a twelve month high of $43.71.

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

Exelon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Exelon’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 4.02%. Exelon’s dividend payout ratio (DPR) is 65.24%.

Hedge Funds Weigh In On Exelon

A number of large investors have recently added to or reduced their stakes in EXC. SVB Wealth LLC raised its holdings in Exelon by 2.9% during the 1st quarter. SVB Wealth LLC now owns 7,714 shares of the company’s stock valued at $367,000 after buying an additional 219 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Exelon by 1.4% during the first quarter. NewEdge Advisors LLC now owns 18,411 shares of the company’s stock valued at $775,000 after acquiring an additional 248 shares during the last quarter. Baltimore Washington Financial Advisors Inc. boosted its holdings in shares of Exelon by 3.9% during the first quarter. Baltimore Washington Financial Advisors Inc. now owns 7,110 shares of the company’s stock worth $310,000 after purchasing an additional 266 shares during the period. Addison Advisors LLC boosted its holdings in shares of Exelon by 50.3% during the third quarter. Addison Advisors LLC now owns 825 shares of the company’s stock worth $31,000 after purchasing an additional 276 shares during the period. Finally, MCF Advisors LLC increased its holdings in Exelon by 10.5% during the 3rd quarter. MCF Advisors LLC now owns 2,936 shares of the company’s stock valued at $111,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 80.92% of the company’s stock.

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.