PNM Resources (NYSE:PNM) Issues FY 2023 Earnings Guidance

PNM Resources (NYSE:PNMGet Rating) issued an update on its FY 2023 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.60-$2.75 for the period, compared to the consensus estimate of $2.66. The company issued revenue guidance of -.PNM Resources also updated its FY 2022 guidance to $2.50-$2.60 EPS.

NYSE PNM opened at $45.58 on Tuesday. The business’s 50-day moving average price is $46.82 and its two-hundred day moving average price is $46.56. PNM Resources has a 12 month low of $43.84 and a 12 month high of $50.11. The firm has a market capitalization of $3.91 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 4.10 and a beta of 0.46. The company has a current ratio of 0.45, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67.

PNM Resources (NYSE:PNMGet Rating) last announced its earnings results on Thursday, April 28th. The utilities provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. PNM Resources had a return on equity of 10.38% and a net margin of 10.68%. The business had revenue of $444.12 million for the quarter, compared to analysts’ expectations of $382.37 million. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue was up 21.8% on a year-over-year basis. As a group, analysts forecast that PNM Resources will post 2.55 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Friday, April 29th will be issued a $0.347 dividend. The ex-dividend date is Thursday, April 28th. This represents a $1.39 annualized dividend and a yield of 3.05%. PNM Resources’s payout ratio is 61.50%.

Several research firms have recently weighed in on PNM. StockNews.com began coverage on PNM Resources in a research report on Thursday, March 31st. They issued a hold rating for the company. Mizuho lifted their target price on PNM Resources from $47.00 to $53.00 and gave the stock a neutral rating in a report on Wednesday, February 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $49.33.

A number of hedge funds have recently bought and sold shares of PNM. MetLife Investment Management LLC increased its stake in PNM Resources by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 71,197 shares of the utilities provider’s stock valued at $3,247,000 after purchasing an additional 361 shares in the last quarter. California State Teachers Retirement System increased its position in shares of PNM Resources by 2.1% during the fourth quarter. California State Teachers Retirement System now owns 115,310 shares of the utilities provider’s stock worth $5,259,000 after acquiring an additional 2,352 shares in the last quarter. Invesco Ltd. increased its position in shares of PNM Resources by 2.9% during the fourth quarter. Invesco Ltd. now owns 159,548 shares of the utilities provider’s stock worth $7,276,000 after acquiring an additional 4,456 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of PNM Resources in the 4th quarter worth about $218,000. Finally, Jane Street Group LLC bought a new position in PNM Resources in the 3rd quarter valued at about $239,000. 86.59% of the stock is currently owned by institutional investors and hedge funds.

PNM Resources Company Profile (Get Rating)

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.

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