Brokerages predict that PNM Resources Inc (NYSE:PNM) will announce earnings per share (EPS) of $0.16 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for PNM Resources’ earnings. The lowest EPS estimate is $0.15 and the highest is $0.17. PNM Resources posted earnings of $0.24 per share in the same quarter last year, which would indicate a negative year over year growth rate of 33.3%. The business is scheduled to report its next earnings report on Tuesday, February 26th.
On average, analysts expect that PNM Resources will report full-year earnings of $1.97 per share for the current financial year, with EPS estimates ranging from $1.97 to $1.98. For the next year, analysts expect that the firm will report earnings of $2.13 per share, with EPS estimates ranging from $2.12 to $2.14. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for PNM Resources.
PNM Resources (NYSE:PNM) last released its earnings results on Tuesday, November 6th. The utilities provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $422.67 million for the quarter, compared to analysts’ expectations of $483.08 million. PNM Resources had a return on equity of 9.25% and a net margin of 6.08%. During the same quarter in the prior year, the firm posted $0.93 earnings per share.
A number of research firms have recently commented on PNM. Bank of America reaffirmed an “underperform” rating and set a $42.00 target price (up previously from $39.00) on shares of PNM Resources in a research note on Tuesday, December 4th. Barclays upped their target price on PNM Resources from $38.00 to $39.00 and gave the company a “sell” rating in a research note on Monday, November 19th. Finally, Zacks Investment Research cut PNM Resources from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $39.25.
PNM opened at $41.51 on Friday. The company has a market cap of $3.25 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 4.09 and a beta of 0.27. PNM Resources has a one year low of $33.75 and a one year high of $45.35. The company has a current ratio of 0.37, a quick ratio of 0.29 and a debt-to-equity ratio of 1.17.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Friday, February 1st will be issued a $0.29 dividend. This is a positive change from PNM Resources’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.79%. PNM Resources’s payout ratio is presently 54.64%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of PNM Resources by 2.0% in the third quarter. BlackRock Inc. now owns 9,461,031 shares of the utilities provider’s stock valued at $373,238,000 after purchasing an additional 183,768 shares during the period. Vanguard Group Inc. boosted its holdings in shares of PNM Resources by 1.1% in the third quarter. Vanguard Group Inc. now owns 8,930,685 shares of the utilities provider’s stock valued at $352,315,000 after purchasing an additional 97,356 shares during the period. Vanguard Group Inc boosted its holdings in shares of PNM Resources by 1.1% in the third quarter. Vanguard Group Inc now owns 8,930,685 shares of the utilities provider’s stock valued at $352,315,000 after purchasing an additional 97,356 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of PNM Resources by 8.0% in the third quarter. Renaissance Technologies LLC now owns 2,488,600 shares of the utilities provider’s stock valued at $98,175,000 after purchasing an additional 183,400 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of PNM Resources by 6.1% in the third quarter. Alliancebernstein L.P. now owns 2,334,431 shares of the utilities provider’s stock valued at $92,093,000 after purchasing an additional 135,215 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.
About PNM Resources
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.
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