Exelon (NASDAQ:EXC) Updates FY24 Earnings Guidance

Exelon (NASDAQ:EXC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.40-2.50 for the period, compared to the consensus estimate of $2.45. Exelon also updated its FY 2024 guidance to 2.400-2.500 EPS.

Exelon Trading Down 2.9 %

Exelon stock traded down $1.15 during midday trading on Friday, reaching $38.15. The stock had a trading volume of 7,671,481 shares, compared to its average volume of 6,760,974. Exelon has a 52-week low of $33.35 and a 52-week high of $41.48. The company has a fifty day moving average of $39.66 and a 200 day moving average of $37.71. The firm has a market cap of $38.17 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 2.88 and a beta of 0.53. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. The firm had revenue of $6.15 billion during the quarter, compared to analyst estimates of $5.85 billion. Exelon had a return on equity of 9.47% and a net margin of 10.60%. Exelon’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS. On average, analysts anticipate that Exelon will post 2.44 earnings per share for the current fiscal year.

Exelon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, November 8th. Exelon’s dividend payout ratio is currently 62.55%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EXC. Scotiabank boosted their price objective on shares of Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Morgan Stanley boosted their price target on Exelon from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Jefferies Financial Group began coverage on Exelon in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective on the stock. Wells Fargo & Company lifted their target price on Exelon from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, Barclays upped their target price on Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.33.

Exelon Company Profile

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.