Analysts Anticipate PNM Resources Inc (NYSE:PNM) Will Post Earnings of $0.37 Per Share

Equities research analysts expect PNM Resources Inc (NYSE:PNM) to announce earnings of $0.37 per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for PNM Resources’ earnings. PNM Resources reported earnings per share of $0.53 during the same quarter last year, which indicates a negative year-over-year growth rate of 30.2%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Friday, August 2nd.

According to Zacks, analysts expect that PNM Resources will report full year earnings of $2.11 per share for the current year, with EPS estimates ranging from $2.08 to $2.16. For the next financial year, analysts anticipate that the business will report earnings of $2.21 per share, with EPS estimates ranging from $2.20 to $2.23. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover PNM Resources.

PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. PNM Resources had a return on equity of 8.68% and a net margin of 6.10%. The firm had revenue of $349.65 million during the quarter, compared to the consensus estimate of $273.12 million. During the same period last year, the company earned $0.21 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis.

PNM has been the topic of several recent analyst reports. UBS Group cut to a “sell” rating and increased their price objective for the company from GBX 530 ($6.93) to GBX 540 ($7.06) in a research report on Wednesday, June 12th. Mizuho set a $88.00 price objective on Gilead Sciences and gave the company a “buy” rating in a research report on Monday, July 15th. Bank of America raised Air Products & Chemicals from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $170.00 to $215.00 in a research report on Thursday, April 25th. Wells Fargo & Co reaffirmed a “sell” rating on shares of Bausch Health Companies in a research report on Monday, July 15th. Finally, Barclays reaffirmed a “top pick” rating and set a GBX 3,250 ($42.47) price objective on shares of in a research report on Wednesday, June 19th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. PNM Resources presently has a consensus rating of “Hold” and a consensus target price of $50.19.

Large investors have recently made changes to their positions in the business. Osborn Williams & Donohoe LLC purchased a new position in PNM Resources in the first quarter worth about $69,000. Quadrant Capital Group LLC boosted its position in PNM Resources by 1,004.6% in the first quarter. Quadrant Capital Group LLC now owns 2,176 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 1,979 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of PNM Resources during the 1st quarter valued at about $123,000. PNC Financial Services Group Inc. lifted its position in shares of PNM Resources by 38.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,925 shares of the utilities provider’s stock valued at $162,000 after buying an additional 1,100 shares in the last quarter. Finally, Intrust Bank NA purchased a new position in shares of PNM Resources during the 1st quarter valued at about $213,000. 90.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of PNM Resources stock traded down $0.69 during trading on Friday, hitting $49.62. 385,342 shares of the company’s stock traded hands, compared to its average volume of 372,717. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 1.66. PNM Resources has a 1 year low of $37.17 and a 1 year high of $52.10. The stock has a market cap of $3.95 billion, a PE ratio of 24.81, a P/E/G ratio of 4.36 and a beta of 0.29. The stock has a 50-day simple moving average of $50.21.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.

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Earnings History and Estimates for PNM Resources (NYSE:PNM)

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