Brokerages expect PNM Resources Inc (NYSE:PNM) to post earnings per share of $0.61 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for PNM Resources’ earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.58. PNM Resources reported earnings of $0.53 per share during the same quarter last year, which suggests a positive year over year growth rate of 15.1%. The firm is expected to announce its next earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that PNM Resources will report full-year earnings of $2.16 per share for the current year, with EPS estimates ranging from $2.15 to $2.17. For the next fiscal year, analysts anticipate that the company will report earnings of $2.23 per share, with EPS estimates ranging from $2.22 to $2.24. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover PNM Resources.
PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $349.65 million during the quarter, compared to the consensus estimate of $273.12 million. PNM Resources had a return on equity of 8.68% and a net margin of 6.10%. PNM Resources’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share.
A number of analysts recently issued reports on PNM shares. Wells Fargo & Co set a $45.00 price target on PNM Resources and gave the stock a “hold” rating in a research report on Thursday, February 28th. Barclays set a $47.00 price target on PNM Resources and gave the stock a “sell” rating in a research report on Friday, May 17th. Zacks Investment Research upgraded PNM Resources from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Saturday, March 2nd. Mizuho upgraded PNM Resources from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $42.50 to $43.50 in a research report on Friday, March 8th. Finally, Williams Capital restated a “sell” rating on shares of PNM Resources in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $48.28.
PNM traded down $0.35 during trading on Friday, reaching $51.35. The company had a trading volume of 7,166 shares, compared to its average volume of 439,227. The company has a market capitalization of $4.11 billion, a PE ratio of 25.59, a P/E/G ratio of 4.58 and a beta of 0.24. The business’s 50 day moving average is $48.71. PNM Resources has a 52 week low of $37.17 and a 52 week high of $52.10. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.
Several large investors have recently added to or reduced their stakes in PNM. Oregon Public Employees Retirement Fund increased its stake in shares of PNM Resources by 4,009.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,297,417 shares of the utilities provider’s stock valued at $32,000 after buying an additional 1,265,842 shares during the period. Osborn Williams & Donohoe LLC purchased a new position in shares of PNM Resources during the first quarter valued at $69,000. Quadrant Capital Group LLC increased its stake in shares of PNM Resources by 1,004.6% during the first quarter. Quadrant Capital Group LLC now owns 2,176 shares of the utilities provider’s stock valued at $100,000 after buying an additional 1,979 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of PNM Resources during the first quarter valued at $123,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of PNM Resources by 38.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,925 shares of the utilities provider’s stock valued at $162,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 90.17% of the company’s stock.
PNM Resources Company Profile
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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