Brokerages expect that PNM Resources Inc (NYSE:PNM) will post earnings per share of $0.18 for the current quarter, according to Zacks. Zero analysts have made estimates for PNM Resources’ earnings, with estimates ranging from $0.17 to $0.23. PNM Resources posted earnings of $0.34 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 47.1%. The firm is scheduled to announce its next earnings results before the market opens on Tuesday, February 27th.
On average, analysts expect that PNM Resources will report full year earnings of $1.86 per share for the current year, with EPS estimates ranging from $1.85 to $1.90. For the next fiscal year, analysts expect that the company will post earnings of $1.74 per share, with EPS estimates ranging from $1.70 to $1.75. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow PNM Resources.
Several analysts recently weighed in on PNM shares. Zacks Investment Research downgraded PNM Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. SunTrust Banks set a $35.00 price target on PNM Resources and gave the stock a “hold” rating in a research note on Monday, February 5th. Mizuho restated a “sell” rating and issued a $30.50 price target on shares of PNM Resources in a research note on Thursday, January 11th. UBS Group assumed coverage on PNM Resources in a research note on Friday, February 2nd. They set a “sell” rating and a $36.00 target price on the stock. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $40.00 target price on shares of PNM Resources in a research note on Thursday, February 1st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. PNM Resources presently has a consensus rating of “Hold” and a consensus target price of $39.38.
PNM Resources (NYSE PNM) traded up $0.15 during trading on Monday, hitting $35.75. The company had a trading volume of 407,145 shares, compared to its average volume of 768,133. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.53 and a quick ratio of 0.43. The stock has a market cap of $2,835.67, a P/E ratio of 17.96, a P/E/G ratio of 3.55 and a beta of 0.26. PNM Resources has a 52 week low of $33.75 and a 52 week high of $46.00.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Thursday, January 18th were paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.97%. This is an increase from PNM Resources’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, January 17th. PNM Resources’s dividend payout ratio (DPR) is currently 53.27%.
Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new position in shares of PNM Resources in the 3rd quarter worth $170,000. Flinton Capital Management LLC boosted its stake in shares of PNM Resources by 71.4% in the 2nd quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock worth $169,000 after buying an additional 1,840 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PNM Resources by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the utilities provider’s stock worth $194,000 after buying an additional 1,399 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of PNM Resources in the 4th quarter worth $200,000. Finally, Zeke Capital Advisors LLC purchased a new position in shares of PNM Resources in the 4th quarter worth $201,000. Institutional investors and hedge funds own 92.35% of the company’s stock.
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PNM Resources Company Profile
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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