Zacks: Brokerages Anticipate PNM Resources Inc (NYSE:PNM) to Post $0.33 EPS
Equities research analysts expect PNM Resources Inc (NYSE:PNM) to post $0.33 earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for PNM Resources’ earnings. The highest EPS estimate is $0.35 and the lowest is $0.31. PNM Resources posted earnings per share of $0.18 in the same quarter last year, which indicates a positive year-over-year growth rate of 83.3%. The company is expected to report its next earnings report on Wednesday, February 26th.
On average, analysts expect that PNM Resources will report full year earnings of $2.09 per share for the current financial year, with EPS estimates ranging from $2.08 to $2.10. For the next financial year, analysts forecast that the firm will report earnings of $2.21 per share, with EPS estimates ranging from $2.19 to $2.22. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow PNM Resources.
PNM Resources (NYSE:PNM) last announced its earnings results on Friday, November 1st. The utilities provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. The business had revenue of $433.59 million for the quarter, compared to the consensus estimate of $562.33 million. PNM Resources had a positive return on equity of 9.18% and a negative net margin of 0.64%. During the same period last year, the business posted $1.08 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of PNM. Price T Rowe Associates Inc. MD grew its stake in PNM Resources by 6.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,402,748 shares of the utilities provider’s stock valued at $376,874,000 after purchasing an additional 449,729 shares in the last quarter. Nuveen Asset Management LLC grew its stake in PNM Resources by 5,554.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 358,152 shares of the utilities provider’s stock valued at $18,233,000 after purchasing an additional 351,818 shares in the last quarter. Vanguard Group Inc. grew its stake in PNM Resources by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 9,394,723 shares of the utilities provider’s stock valued at $478,285,000 after purchasing an additional 187,521 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new stake in PNM Resources during the 3rd quarter valued at approximately $7,249,000. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in PNM Resources by 66.6% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 320,800 shares of the utilities provider’s stock valued at $16,332,000 after purchasing an additional 128,200 shares in the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.
Shares of NYSE:PNM opened at $48.11 on Tuesday. The company has a market cap of $3.93 billion, a P/E ratio of 24.06, a PEG ratio of 4.21 and a beta of 0.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.34 and a current ratio of 0.36. PNM Resources has a one year low of $39.51 and a one year high of $52.98. The business’s 50-day simple moving average is $51.53 and its 200 day simple moving average is $49.87.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.16 dividend on an annualized basis and a yield of 2.41%. PNM Resources’s dividend payout ratio (DPR) is presently 58.00%.
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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