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.
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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