PNM Resources (NYSE:PNM) Updates FY 2020 Pre-Market Earnings Guidance

PNM Resources (NYSE:PNM) issued an update on its FY 2020
Pre-Market earnings guidance on Friday morning. The company provided earnings per share guidance of 2.16-2.26 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.19. PNM Resources also updated its FY20 guidance to $2.16-2.22 EPS.

Shares of NYSE:PNM traded up $0.29 during trading on Friday, hitting $42.23. The stock had a trading volume of 539,242 shares, compared to its average volume of 390,579. PNM Resources has a 12-month low of $27.08 and a 12-month high of $56.14. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56. The company has a quick ratio of 0.19, a current ratio of 0.26 and a debt-to-equity ratio of 1.46. The stock has a 50-day simple moving average of $39.32 and a two-hundred day simple moving average of $43.48.

PNM Resources (NYSE:PNM) last announced its quarterly earnings results on Friday, July 31st. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. The company had revenue of $357.64 million during the quarter, compared to analysts’ expectations of $345.13 million. PNM Resources had a return on equity of 9.98% and a net margin of 2.92%. PNM Resources’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned $0.37 earnings per share. As a group, sell-side analysts forecast that PNM Resources will post 2.2 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 7th will be given a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, August 6th. PNM Resources’s dividend payout ratio (DPR) is presently 56.94%.

PNM has been the subject of a number of recent analyst reports. Mizuho boosted their price objective on PNM Resources from $43.00 to $45.00 and gave the company a buy rating in a research report on Wednesday, June 3rd. Barclays upgraded PNM Resources from an equal weight rating to an overweight rating and cut their price objective for the company from $47.00 to $44.00 in a research report on Friday, May 15th. Wells Fargo & Co restated a hold rating on shares of PNM Resources in a research report on Friday, May 1st. Bank of America cut their price objective on PNM Resources from $47.00 to $43.00 and set a buy rating for the company in a research report on Monday, May 4th. Finally, Royal Bank of Canada restated a hold rating and issued a $46.00 price objective on shares of PNM Resources in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. PNM Resources has a consensus rating of Hold and a consensus target price of $45.89.

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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Earnings History and Estimates for PNM Resources (NYSE:PNM)

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