PNM Resources (PNM) Set to Announce Quarterly Earnings on Tuesday

PNM Resources (NYSE:PNM) will be posting its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect PNM Resources to post earnings of $0.68 per share for the quarter. PNM Resources has set its FY 2024 guidance at 2.650-2.750 EPS and its FY24 guidance at $2.65-2.75 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

PNM Resources (NYSE:PNM) last announced its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The firm had revenue of $412.11 million during the quarter, compared to analyst estimates of $705.05 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. During the same quarter in the previous year, the business earned $0.15 earnings per share. On average, analysts expect PNM Resources to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

PNM Resources Price Performance

Shares of NYSE PNM opened at $36.32 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 10.04 and a beta of 0.35. The stock has a 50 day moving average price of $37.06 and a 200 day moving average price of $39.40. PNM Resources has a 52-week low of $34.63 and a 52-week high of $48.71.

PNM Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $0.387 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Thursday, April 25th. PNM Resources’s dividend payout ratio (DPR) is 150.49%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PNM shares. Wells Fargo & Company raised shares of PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research note on Wednesday, January 3rd. TheStreet downgraded shares of PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. Mizuho downgraded PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research report on Wednesday, January 3rd. Barclays upped their price target on PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, StockNews.com downgraded PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.80.

PNM Resources Company Profile

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.