Brokerages Anticipate PNM Resources Inc (NYSE:PNM) to Post $0.31 EPS

Wall Street analysts expect PNM Resources Inc (NYSE:PNM) to announce $0.31 earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for PNM Resources’ earnings. PNM Resources reported earnings per share of $0.18 during the same quarter last year, which would suggest a positive year-over-year growth rate of 72.2%. The company is expected to announce its next quarterly earnings report on Wednesday, February 26th.

According to Zacks, analysts expect that PNM Resources will report full-year earnings of $2.10 per share for the current fiscal year, with EPS estimates ranging from $2.09 to $2.10. For the next financial year, analysts forecast that the business will post earnings of $2.21 per share, with EPS estimates ranging from $2.19 to $2.22. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow PNM Resources.

PNM Resources (NYSE:PNM) last posted its earnings results on Friday, November 1st. The utilities provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. PNM Resources had a negative net margin of 0.64% and a positive return on equity of 9.18%. The firm had revenue of $433.59 million during the quarter, compared to analysts’ expectations of $562.33 million. During the same quarter in the prior year, the firm earned $1.08 EPS.

A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Bank of America raised shares of PNM Resources from a “neutral” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Monday, September 30th. UBS Group upped their price target on shares of PNM Resources from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Co reaffirmed a “hold” rating on shares of PNM Resources in a research note on Friday, November 1st. Finally, SunTrust Banks upped their price target on shares of PNM Resources from $49.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. PNM Resources currently has a consensus rating of “Hold” and an average target price of $51.86.

Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in PNM Resources by 6.7% during the second quarter. Wells Fargo & Company MN now owns 232,873 shares of the utilities provider’s stock valued at $11,856,000 after purchasing an additional 14,679 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in PNM Resources by 352.2% during the second quarter. Balyasny Asset Management LLC now owns 100,434 shares of the utilities provider’s stock valued at $5,113,000 after purchasing an additional 78,222 shares during the last quarter. GWM Advisors LLC lifted its stake in PNM Resources by 0.5% during the second quarter. GWM Advisors LLC now owns 41,917 shares of the utilities provider’s stock valued at $2,134,000 after purchasing an additional 228 shares during the last quarter. Swiss National Bank lifted its stake in PNM Resources by 2.1% during the second quarter. Swiss National Bank now owns 148,200 shares of the utilities provider’s stock valued at $7,545,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in PNM Resources during the third quarter valued at approximately $153,000. 90.35% of the stock is owned by institutional investors.

Shares of NYSE:PNM traded down $0.26 during trading on Tuesday, reaching $47.85. The company had a trading volume of 285,138 shares, compared to its average volume of 388,745. The firm’s fifty day moving average is $51.46 and its 200 day moving average is $49.88. The firm has a market capitalization of $3.93 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 4.21 and a beta of 0.18. PNM Resources has a twelve month low of $39.51 and a twelve month high of $52.98. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.34 and a current ratio of 0.36.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, October 31st. PNM Resources’s dividend payout ratio is currently 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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