Q1 2017 EPS Estimates for PNM Resources Inc. (PNM) Lifted by Williams Capital
PNM Resources Inc. (NYSE:PNM) – Equities researchers at Williams Capital raised their Q1 2017 earnings estimates for shares of PNM Resources in a note issued to investors on Thursday. Williams Capital analyst C. Ellinghaus now anticipates that the brokerage will post earnings of $0.18 per share for the quarter, up from their prior estimate of $0.17. Williams Capital currently has a “Hold” rating on the stock. Williams Capital also issued estimates for PNM Resources’ Q2 2017 earnings at $0.46 EPS, Q3 2017 earnings at $0.86 EPS, Q4 2017 earnings at $0.28 EPS and FY2017 earnings at $1.78 EPS.
PNM Resources (NYSE:PNM) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company had revenue of $315.39 million for the quarter, compared to analysts’ expectations of $379 million. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The firm’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share.
Several other research analysts have also issued reports on the stock. TheStreet lowered shares of PNM Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Zacks Investment Research raised shares of PNM Resources from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. SunTrust Banks Inc. dropped their price target on shares of PNM Resources from $35.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, August 29th. Jefferies Group raised shares of PNM Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, September 20th. Finally, Argus dropped their price target on shares of PNM Resources from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, September 22nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.42.
PNM Resources (NYSE:PNM) opened at 32.72 on Friday. The firm has a 50 day moving average price of $32.78 and a 200 day moving average price of $33.18. PNM Resources has a 12-month low of $26.56 and a 12-month high of $36.15. The company has a market cap of $2.61 billion, a PE ratio of 359.56 and a beta of 0.24.
Several hedge funds have recently added to or reduced their stakes in PNM. Meeder Asset Management Inc. boosted its stake in PNM Resources by 514.3% in the first quarter. Meeder Asset Management Inc. now owns 3,686 shares of the company’s stock valued at $124,000 after buying an additional 3,086 shares during the period. State Street Corp boosted its stake in PNM Resources by 1.8% in the first quarter. State Street Corp now owns 2,726,625 shares of the company’s stock valued at $91,943,000 after buying an additional 49,025 shares during the period. NWQ Investment Management Company LLC bought a new stake in PNM Resources during the first quarter valued at approximately $28,637,000. Mesirow Financial Investment Management US Value Equity boosted its stake in PNM Resources by 34.5% in the first quarter. Mesirow Financial Investment Management US Value Equity now owns 30,968 shares of the company’s stock valued at $1,044,000 after buying an additional 7,947 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in PNM Resources by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 435,267 shares of the company’s stock valued at $14,678,000 after buying an additional 3,546 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 31st will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.88 annualized dividend and a dividend yield of 2.69%. PNM Resources’s dividend payout ratio (DPR) is currently 1,100.00%.
PNM Resources Company Profile
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 and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
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