PNM Resources (NYSE:PNM) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.04-$2.16 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.05.
Several equities research analysts have issued reports on the stock. Wells Fargo & Co set a $38.00 price objective on shares of PNM Resources and gave the company a hold rating in a research report on Wednesday. SunTrust Banks set a $35.00 price objective on shares of PNM Resources and gave the company a hold rating in a research report on Monday, February 5th. Mizuho reissued a sell rating and issued a $30.50 price objective on shares of PNM Resources in a research report on Thursday, January 11th. UBS Group started coverage on shares of PNM Resources in a research report on Friday, February 2nd. They issued a sell rating and a $36.00 price target for the company. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $40.00 price target on shares of PNM Resources in a research report on Thursday, February 1st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. PNM Resources currently has a consensus rating of Hold and an average target price of $39.07.
Shares of PNM Resources (PNM) traded up $0.50 on Thursday, hitting $35.70. 58,760 shares of the stock traded hands, compared to its average volume of 796,099. PNM Resources has a 52-week low of $33.75 and a 52-week high of $46.00. The stock has a market cap of $2,827.70, a PE ratio of 18.30, a PEG ratio of 3.30 and a beta of 0.26. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.53 and a quick ratio of 0.43.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 16th. Investors of record on Wednesday, May 2nd will be given a dividend of $0.265 per share. The ex-dividend date is Tuesday, May 1st. This represents a $1.06 dividend on an annualized basis and a yield of 2.97%. PNM Resources’s payout ratio is 106.00%.
About PNM Resources
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.