PNM Resources, Inc. to Post Q3 2024 Earnings of $1.41 Per Share, Zacks Research Forecasts (NYSE:PNM)

PNM Resources, Inc. (NYSE:PNM) – Stock analysts at Zacks Research raised their Q3 2024 EPS estimates for shares of PNM Resources in a report released on Tuesday, May 21st. Zacks Research analyst J. Saha now anticipates that the utilities provider will earn $1.41 per share for the quarter, up from their prior forecast of $1.17. The consensus estimate for PNM Resources’ current full-year earnings is $2.70 per share. Zacks Research also issued estimates for PNM Resources’ Q4 2024 earnings at $0.34 EPS, Q1 2025 earnings at $0.44 EPS, Q3 2025 earnings at $1.46 EPS, Q4 2025 earnings at $0.35 EPS and Q1 2026 earnings at $0.44 EPS.

Separately, Barclays increased their price target on PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, PNM Resources has a consensus rating of “Hold” and an average target price of $44.75.

PNM Resources Trading Down 2.3 %

Shares of PNM stock opened at $36.84 on Thursday. The company has a market capitalization of $3.32 billion, a P/E ratio of 40.47, a price-to-earnings-growth ratio of 5.66 and a beta of 0.35. The company has a current ratio of 0.37, a quick ratio of 0.27 and a debt-to-equity ratio of 1.81. The business’s 50 day moving average is $37.26 and its two-hundred day moving average is $38.69. PNM Resources has a twelve month low of $34.63 and a twelve month high of $46.94.

PNM Resources (NYSE:PNM) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.27). The business had revenue of $436.90 million for the quarter, compared to analyst estimates of $531.00 million. PNM Resources had a return on equity of 9.91% and a net margin of 4.38%. PNM Resources’s quarterly revenue was down 19.7% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS.

Hedge Funds Weigh In On PNM Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. LRI Investments LLC purchased a new stake in PNM Resources during the first quarter worth $30,000. Fortis Group Advisors LLC raised its stake in shares of PNM Resources by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 800 shares of the utilities provider’s stock worth $33,000 after buying an additional 400 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of PNM Resources by 106.4% in the 1st quarter. GAMMA Investing LLC now owns 834 shares of the utilities provider’s stock worth $31,000 after buying an additional 430 shares in the last quarter. Fifth Third Bancorp grew its stake in PNM Resources by 152.3% in the 1st quarter. Fifth Third Bancorp now owns 1,062 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 641 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in PNM Resources by 4,061.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 1,056 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

PNM Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were given a dividend of $0.387 per share. This represents a $1.55 annualized dividend and a yield of 4.20%. The ex-dividend date was Thursday, April 25th. PNM Resources’s payout ratio is 170.33%.

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.