PNM Resources (NYSE:PNM) Releases FY24 Earnings Guidance

PNM Resources (NYSE:PNM) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.65-2.75 for the period, compared to the consensus estimate of $2.69.

Wall Street Analyst Weigh In

PNM has been the subject of several research reports. StockNews.com downgraded PNM Resources from a hold rating to a sell rating in a report on Wednesday, January 17th. Barclays raised their target price on shares of PNM Resources from $40.00 to $43.00 and gave the stock an overweight rating in a research note on Monday, April 15th. Finally, TheStreet lowered shares of PNM Resources from a b- rating to a c+ rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $46.80.

PNM Resources Stock Performance

PNM stock traded up $0.07 during trading hours on Friday, hitting $37.78. 459,836 shares of the stock were exchanged, compared to its average volume of 1,345,479. PNM Resources has a 12 month low of $34.63 and a 12 month high of $48.71. The company has a current ratio of 0.39, a quick ratio of 0.31 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $3.41 billion, a P/E ratio of 41.52, a P/E/G ratio of 10.32 and a beta of 0.35. The company has a 50-day simple moving average of $37.03 and a two-hundred day simple moving average of $39.21.

PNM Resources (NYSE:PNM) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.27). PNM Resources had a net margin of 4.38% and a return on equity of 9.99%. The business had revenue of $436.90 million during the quarter, compared to analyst estimates of $531.00 million. During the same quarter last year, the company posted $0.55 earnings per share. The company’s revenue was down 19.7% on a year-over-year basis. On average, analysts forecast that PNM Resources will post 2.71 earnings per share for the current fiscal year.

PNM Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.387 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.55 annualized dividend and a dividend yield of 4.10%. PNM Resources’s dividend payout ratio is presently 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.