Brokers Set Expectations for Exelon Co.’s FY2024 Earnings (NASDAQ:EXC)

Exelon Co. (NASDAQ:EXC) – Stock analysts at Seaport Res Ptn lifted their FY2024 EPS estimates for Exelon in a research note issued to investors on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now forecasts that the company will earn $2.43 per share for the year, up from their previous forecast of $2.41. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Exelon’s current full-year earnings is $2.41 per share.

Several other analysts have also weighed in on EXC. Wells Fargo & Company lowered their target price on shares of Exelon from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Scotiabank lowered their price target on shares of Exelon from $39.00 to $37.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Mizuho upgraded shares of Exelon from a “neutral” rating to a “buy” rating and upped their price target for the stock from $36.00 to $39.00 in a research report on Wednesday, January 10th. StockNews.com upgraded shares of Exelon from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. Finally, UBS Group lowered shares of Exelon from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $47.00 to $37.00 in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.92.

Exelon Stock Down 0.9 %

EXC stock opened at $37.32 on Monday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.73. Exelon has a 1-year low of $33.35 and a 1-year high of $43.53. The firm has a fifty day moving average price of $36.74 and a two-hundred day moving average price of $37.07. The firm has a market cap of $37.30 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 2.72 and a beta of 0.54.

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

Institutional Investors Weigh In On Exelon

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Exelon by 2.6% in the 4th quarter. Wellington Management Group LLP now owns 93,146,101 shares of the company’s stock valued at $3,343,945,000 after acquiring an additional 2,352,547 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Exelon by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 21,676,744 shares of the company’s stock valued at $819,164,000 after acquiring an additional 286,435 shares during the last quarter. Legal & General Group Plc lifted its holdings in Exelon by 0.6% in the 3rd quarter. Legal & General Group Plc now owns 12,644,485 shares of the company’s stock valued at $477,837,000 after acquiring an additional 78,316 shares during the last quarter. Northern Trust Corp lifted its holdings in Exelon by 3.5% in the 3rd quarter. Northern Trust Corp now owns 11,665,829 shares of the company’s stock valued at $440,852,000 after acquiring an additional 395,908 shares during the last quarter. Finally, Norges Bank purchased a new stake in Exelon during the fourth quarter valued at about $382,015,000. 80.92% of the stock is owned by institutional investors and hedge funds.

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 issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.07%. This is an increase from Exelon’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, March 1st. Exelon’s dividend payout ratio is presently 65.24%.

About Exelon

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.