PNM Resources Inc (PNM) Expected to Post Earnings of $0.23 Per Share

Wall Street analysts expect PNM Resources Inc (NYSE:PNM) to announce $0.23 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for PNM Resources’ earnings. The lowest EPS estimate is $0.21 and the highest is $0.28. PNM Resources reported earnings of $0.28 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 17.9%. The company is expected to issue its next quarterly earnings report before the market opens on Friday, April 27th.

On average, analysts expect that PNM Resources will report full-year earnings of $1.87 per share for the current financial year, with EPS estimates ranging from $1.85 to $1.89. For the next financial year, analysts forecast that the business will post earnings of $2.09 per share, with EPS estimates ranging from $2.05 to $2.10. Zacks’ earnings per share averages are an average based on a survey of analysts that cover PNM Resources.

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PNM Resources (NYSE:PNM) last released its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. PNM Resources had a return on equity of 8.71% and a net margin of 5.55%. The business had revenue of $332.61 million during the quarter, compared to analysts’ expectations of $330.25 million. During the same period in the previous year, the business posted $0.34 earnings per share.

A number of research analysts recently issued reports on the company. SunTrust Banks reaffirmed a “hold” rating and issued a $37.00 price target on shares of PNM Resources in a report on Monday, April 2nd. Zacks Investment Research raised PNM Resources from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Tuesday, March 6th. Wells Fargo set a $38.00 price objective on PNM Resources and gave the stock a “hold” rating in a report on Wednesday, February 28th. UBS initiated coverage on PNM Resources in a report on Friday, February 2nd. They set a “sell” rating and a $36.00 price objective for the company. Finally, Royal Bank of Canada reissued a “hold” rating and set a $40.00 price objective on shares of PNM Resources in a report on Thursday, February 1st. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.91.

Shares of PNM Resources stock traded down $0.15 during trading on Wednesday, reaching $37.95. The company’s stock had a trading volume of 440,104 shares, compared to its average volume of 497,139. The company has a quick ratio of 0.27, a current ratio of 0.35 and a debt-to-equity ratio of 1.24. PNM Resources has a one year low of $33.75 and a one year high of $46.00. The stock has a market capitalization of $3,034.80, a price-to-earnings ratio of 19.56, a P/E/G ratio of 3.81 and a beta of 0.26.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 16th. Shareholders of record on Wednesday, May 2nd will be issued a dividend of $0.265 per share. The ex-dividend date is Tuesday, May 1st. This represents a $1.06 annualized dividend and a yield of 2.79%. PNM Resources’s dividend payout ratio is currently 54.64%.

In other news, CFO Charles N. Eldred sold 1,500 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $35.55, for a total value of $53,325.00. Following the completion of the sale, the chief financial officer now directly owns 115,888 shares of the company’s stock, valued at approximately $4,119,818.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Ronald N. Darnell sold 3,162 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $35.95, for a total value of $113,673.90. Following the completion of the sale, the senior vice president now directly owns 29,726 shares of the company’s stock, valued at $1,068,649.70. The disclosure for this sale can be found here. Insiders have sold a total of 7,616 shares of company stock valued at $272,457 over the last three months. Company insiders own 1.26% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PNM Resources by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the utilities provider’s stock valued at $194,000 after acquiring an additional 1,399 shares during the last quarter. Parametrica Management Ltd bought a new stake in shares of PNM Resources in the 4th quarter valued at about $200,000. Zeke Capital Advisors LLC bought a new stake in shares of PNM Resources in the 4th quarter valued at about $201,000. Vident Investment Advisory LLC bought a new stake in shares of PNM Resources in the 4th quarter valued at about $215,000. Finally, Signition LP bought a new stake in shares of PNM Resources in the 4th quarter valued at about $223,000. 91.79% of the stock is owned by institutional investors.

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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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