PNM Resources (NYSE:PNM – Get Rating) updated its FY23 earnings guidance on Thursday. The company provided earnings per share guidance of $2.50-$2.60 for the period, compared to the consensus earnings per share estimate of $2.67. PNM Resources also updated its FY 2023 guidance to $2.60-$2.75 EPS.
Analysts Set New Price Targets
Separately, Mizuho raised shares of PNM Resources from a neutral rating to a buy rating and decreased their price objective for the stock from $53.00 to $52.00 in a research note on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $49.00.
PNM Resources Price Performance
Shares of PNM traded down $0.29 during mid-day trading on Thursday, hitting $48.20. 557,234 shares of the company traded hands, compared to its average volume of 645,886. PNM Resources has a one year low of $43.43 and a one year high of $50.11. The company has a current ratio of 0.45, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. The business has a 50-day moving average of $47.04 and a 200 day moving average of $46.45. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 3.70 and a beta of 0.42.
Institutional Trading of PNM Resources
About PNM Resources
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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