PPL (NYSE:PPL) Issues FY24 Earnings Guidance

PPL (NYSE:PPL) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.63-1.75 for the period, compared to the consensus EPS estimate of $1.70.

PPL Stock Down 0.3 %

Shares of NYSE PPL opened at $27.46 on Wednesday. The company’s 50 day moving average price is $26.95 and its 200-day moving average price is $26.37. The company has a market capitalization of $20.25 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 2.51 and a beta of 0.81. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.73 and a current ratio of 0.88. PPL has a 52-week low of $22.20 and a 52-week high of $29.03.

PPL (NYSE:PPL) last released its quarterly earnings data on Friday, February 16th. The utilities provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.56 billion. PPL had a net margin of 8.90% and a return on equity of 8.45%. PPL’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. Equities analysts forecast that PPL will post 1.7 earnings per share for the current year.

PPL Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Thursday, March 7th. This is a positive change from PPL’s previous quarterly dividend of $0.24. PPL’s payout ratio is 103.00%.

Analysts Set New Price Targets

PPL has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of PPL from $29.00 to $30.00 and gave the stock a buy rating in a report on Thursday, April 11th. StockNews.com raised shares of PPL from a sell rating to a hold rating in a report on Wednesday, April 24th. TheStreet downgraded shares of PPL from a b- rating to a c rating in a report on Friday, February 16th. Royal Bank of Canada boosted their price target on shares of PPL from $30.00 to $31.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company cut their price target on shares of PPL from $32.00 to $30.00 and set an overweight rating on the stock in a report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $32.50.

About PPL

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.