PNM Resources Inc. (PNM) Trading Down 2.4%
Shares of PNM Resources Inc. (NYSE:PNM) were down 2.4% during mid-day trading on Friday . The company traded as low as $32.04 and last traded at $32.04, with a volume of 244,041 shares trading hands. The stock had previously closed at $32.83.
A number of analysts have recently issued reports on PNM shares. Jefferies Group reissued a “hold” rating on shares of PNM Resources in a research note on Monday, May 2nd. Zacks Investment Research lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. PNM Resources currently has a consensus rating of “Buy” and an average target price of $35.50.
The firm has a market capitalization of $2.54 billion and a P/E ratio of 350.44. The firm has a 50 day moving average price of $33.67 and a 200-day moving average price of $33.14.
PNM Resources (NYSE:PNM) last issued its earnings results on Monday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. During the same period last year, the business earned $0.44 earnings per share. The company earned $315.39 million during the quarter, compared to analyst estimates of $379 million. The firm’s revenue was down 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that PNM Resources Inc. will post $1.58 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Monday, August 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, August 4th.
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 and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
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