PNM Resources (NYSE:PNM) Releases FY19 Earnings Guidance

PNM Resources (NYSE:PNM) issued an update on its FY19 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $2.05-2.11 for the period, compared to the Thomson Reuters consensus estimate of $2.09. PNM Resources also updated its FY 2019 guidance to $2.05-2.11 EPS.

PNM stock traded down $1.33 during trading on Friday, reaching $49.14. 494,907 shares of the company were exchanged, compared to its average volume of 351,207. The stock has a market cap of $4.02 billion, a P/E ratio of 24.57, a P/E/G ratio of 4.40 and a beta of 0.24. PNM Resources has a 52-week low of $37.67 and a 52-week high of $52.10. The firm’s 50 day moving average is $50.56. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.

PNM Resources (NYSE:PNM) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $330.23 million for the quarter. PNM Resources had a net margin of 6.10% and a return on equity of 8.68%. Equities analysts expect that PNM Resources will post 2.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Monday, August 5th. PNM Resources’s dividend payout ratio is currently 58.00%.

Several brokerages have issued reports on PNM. Bank of America raised shares of PNM Resources from an underperform rating to a neutral rating and set a $48.00 price target on the stock in a report on Thursday, April 25th. UBS Group raised shares of PNM Resources from a sell rating to a neutral rating and set a $49.15 price target on the stock in a report on Wednesday, June 12th. Zacks Investment Research downgraded shares of PNM Resources from a hold rating to a sell rating in a report on Wednesday. Mizuho upped their price target on shares of PNM Resources from $52.50 to $54.00 and gave the company a buy rating in a report on Monday, July 15th. Finally, Wells Fargo & Co set a $52.00 price target on shares of PNM Resources and gave the company a hold rating in a report on Monday, July 15th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. PNM Resources currently has a consensus rating of Hold and a consensus target price of $50.19.

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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