PNM Resources (NYSE:PNM) Updates FY 2022 Earnings Guidance

PNM Resources (NYSE:PNMGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $2.50-$2.60 for the period, compared to the consensus EPS estimate of $2.50. The company issued revenue guidance of -. PNM Resources also updated its FY 2023 guidance to $2.60-$2.75 EPS.

PNM stock opened at $47.61 on Wednesday. PNM Resources has a 52 week low of $43.43 and a 52 week high of $50.11. The stock has a market capitalization of $4.09 billion, a P/E ratio of 21.07, a P/E/G ratio of 4.33 and a beta of 0.44. The company has a quick ratio of 0.34, a current ratio of 0.45 and a debt-to-equity ratio of 1.67. The firm has a 50-day simple moving average of $46.61 and a 200-day simple moving average of $46.17.

PNM Resources (NYSE:PNMGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. PNM Resources had a net margin of 10.68% and a return on equity of 10.38%. The firm had revenue of $444.12 million for the quarter, compared to analyst estimates of $382.37 million. During the same period in the prior year, the business posted $0.32 EPS. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, analysts expect that PNM Resources will post 2.55 earnings per share for the current year.

A number of analysts recently weighed in on the stock. Mizuho upgraded shares of PNM Resources from a neutral rating to a buy rating and decreased their price target for the stock from $53.00 to $52.00 in a research note on Wednesday, June 22nd. StockNews.com began coverage on shares of PNM Resources in a report on Thursday, March 31st. They set a hold rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, PNM Resources presently has a consensus rating of Hold and an average price target of $49.00.

Hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its holdings in PNM Resources by 14.8% in the 1st quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 339 shares during the last quarter. Ancora Advisors LLC bought a new position in PNM Resources in the first quarter worth $378,000. Quantbot Technologies LP acquired a new position in PNM Resources during the first quarter worth $966,000. Guggenheim Capital LLC increased its stake in shares of PNM Resources by 63.8% in the first quarter. Guggenheim Capital LLC now owns 24,141 shares of the utilities provider’s stock valued at $1,151,000 after buying an additional 9,402 shares in the last quarter. Finally, Prelude Capital Management LLC boosted its holdings in PNM Resources by 87.9% in the first quarter. Prelude Capital Management LLC now owns 27,924 shares of the utilities provider’s stock valued at $1,331,000 after acquiring an additional 13,061 shares during the last quarter. 86.59% of the stock is owned by institutional investors and hedge funds.

PNM Resources Company Profile (Get Rating)

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services 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 engages in the generation, transmission, and distribution of electricity.

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