PG&E (NYSE:PCG) Releases FY24 Earnings Guidance

PG&E (NYSE:PCG) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $1.33-1.37 for the period, compared to the consensus EPS estimate of $1.35. PG&E also updated its FY 2024 guidance to 1.330-1.370 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PCG. The Goldman Sachs Group began coverage on PG&E in a research report on Wednesday, April 10th. They issued a buy rating and a $21.00 price target on the stock. StockNews.com raised shares of PG&E from a sell rating to a hold rating in a research report on Thursday, February 1st. Barclays increased their target price on PG&E from $20.00 to $21.00 and gave the company an overweight rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on PG&E from $18.00 to $19.00 and gave the stock a neutral rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $19.11.

PG&E Stock Performance

Shares of NYSE:PCG traded down $0.04 during trading on Friday, reaching $17.03. The company had a trading volume of 13,459,180 shares, compared to its average volume of 15,607,474. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78. The firm has a market capitalization of $36.39 billion, a price-to-earnings ratio of 16.22 and a beta of 1.32. The stock’s fifty day moving average price is $16.58 and its 200 day moving average price is $16.89. PG&E has a fifty-two week low of $14.71 and a fifty-two week high of $18.32.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. PG&E had a net margin of 9.24% and a return on equity of 10.84%. The company had revenue of $5.86 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same period in the previous year, the firm earned $0.29 EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts predict that PG&E will post 1.35 EPS for the current year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.01 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. PG&E’s dividend payout ratio is presently 3.81%.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.