Zacks: Analysts Expect PNM Resources Inc (NYSE:PNM) Will Announce Earnings of $0.37 Per Share

Analysts expect that PNM Resources Inc (NYSE:PNM) will report $0.37 earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for PNM Resources’ earnings. PNM Resources posted earnings per share of $0.53 during the same quarter last year, which indicates a negative year over year growth rate of 30.2%. The company is scheduled to issue its next earnings results before the market opens on Friday, August 2nd.

According to Zacks, analysts expect that PNM Resources will report full-year earnings of $2.11 per share for the current fiscal year, with EPS estimates ranging from $2.08 to $2.16. For the next financial year, analysts anticipate that the business will report earnings of $2.21 per share, with EPS estimates ranging from $2.20 to $2.23. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for PNM Resources.

PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. The company had revenue of $349.65 million for the quarter, compared to the consensus estimate of $273.12 million. PNM Resources had a net margin of 6.10% and a return on equity of 8.68%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS.

Several equities research analysts have recently weighed in on PNM shares. Bank of America upgraded Air Products & Chemicals from an “underperform” rating to a “neutral” rating and upped their price target for the company from $170.00 to $215.00 in a research report on Thursday, April 25th. Barclays reiterated a “top pick” rating and set a GBX 3,250 ($42.47) price target on shares of in a research report on Wednesday, June 19th. Mizuho set a $88.00 price target on Gilead Sciences and gave the company a “buy” rating in a research report on Monday, July 15th. Wells Fargo & Co reiterated a “sell” rating on shares of Bausch Health Companies in a research report on Monday, July 15th. Finally, UBS Group cut to a “sell” rating and upped their price target for the company from GBX 530 ($6.93) to GBX 540 ($7.06) in a research report on Wednesday, June 12th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $50.19.

PNM Resources stock traded down $0.69 during midday trading on Friday, reaching $49.62. The stock had a trading volume of 385,342 shares, compared to its average volume of 372,717. PNM Resources has a 12 month low of $37.17 and a 12 month high of $52.10. The business has a 50-day moving average of $50.21. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 4.36 and a beta of 0.29. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.69 and a quick ratio of 0.59.

Several large investors have recently added to or reduced their stakes in PNM. LPL Financial LLC boosted its stake in shares of PNM Resources by 8.4% during the 4th quarter. LPL Financial LLC now owns 17,536 shares of the utilities provider’s stock valued at $721,000 after buying an additional 1,364 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of PNM Resources by 38.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,925 shares of the utilities provider’s stock valued at $162,000 after buying an additional 1,100 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of PNM Resources by 4.8% during the 4th quarter. Great West Life Assurance Co. Can now owns 49,833 shares of the utilities provider’s stock valued at $1,900,000 after buying an additional 2,282 shares during the period. Hsbc Holdings PLC boosted its stake in shares of PNM Resources by 186.2% during the 4th quarter. Hsbc Holdings PLC now owns 90,744 shares of the utilities provider’s stock valued at $3,729,000 after buying an additional 59,042 shares during the period. Finally, United Services Automobile Association boosted its stake in shares of PNM Resources by 258.0% during the 4th quarter. United Services Automobile Association now owns 71,995 shares of the utilities provider’s stock valued at $2,958,000 after buying an additional 51,882 shares during the period. 90.14% of the stock is owned by hedge funds and other institutional investors.

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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