Brokers Set Expectations for Exelon Co.’s FY2024 Earnings (NASDAQ:EXC)

Exelon Co. (NASDAQ:EXC) – Analysts at Seaport Res Ptn raised their FY2024 earnings estimates for shares of Exelon in a research report issued to clients and investors on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now forecasts that the company will post earnings of $2.43 per share for the year, up from their previous estimate of $2.41. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Exelon’s current full-year earnings is $2.41 per share.

A number of other research firms have also recently issued reports on EXC. Wells Fargo & Company cut their price target on Exelon from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. StockNews.com raised Exelon from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Mizuho raised Exelon from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $39.00 in a research note on Wednesday, January 10th. Barclays upped their price target on Exelon from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Finally, Scotiabank lowered their price target on Exelon from $39.00 to $37.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $38.92.

Exelon Stock Performance

Exelon stock opened at $37.32 on Monday. The stock has a 50-day simple moving average of $36.74 and a 200 day simple moving average of $37.07. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. Exelon has a 12-month low of $33.35 and a 12-month high of $43.53. The stock has a market capitalization of $37.30 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 2.72 and a beta of 0.54.

Exelon (NASDAQ:EXC) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Exelon had a return on equity of 9.40% and a net margin of 10.72%. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year.

Exelon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a $0.38 dividend. The ex-dividend date was Friday, March 1st. This is a positive change from Exelon’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 4.07%. Exelon’s payout ratio is currently 65.24%.

Hedge Funds Weigh In On Exelon

A number of large investors have recently bought and sold shares of the company. Heritage Wealth Advisors increased its position in Exelon by 247.5% during the 4th quarter. Heritage Wealth Advisors now owns 695 shares of the company’s stock worth $25,000 after buying an additional 495 shares during the period. Register Financial Advisors LLC bought a new position in Exelon during the 1st quarter worth $26,000. Antonetti Capital Management LLC increased its position in Exelon by 98.8% during the 3rd quarter. Antonetti Capital Management LLC now owns 805 shares of the company’s stock worth $30,000 after buying an additional 400 shares during the period. Addison Advisors LLC increased its position in Exelon by 50.3% during the 3rd quarter. Addison Advisors LLC now owns 825 shares of the company’s stock worth $31,000 after buying an additional 276 shares during the period. Finally, Fortis Group Advisors LLC bought a new position in Exelon during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

Exelon Company Profile

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.