Jefferies Group Analysts Lift Earnings Estimates for Exelon Corp. (EXC)
Exelon Corp. (NYSE:EXC) – Stock analysts at Jefferies Group boosted their FY2016 earnings per share estimates for shares of Exelon Corp. in a report issued on Monday. Jefferies Group analyst A. Crowdell now anticipates that the brokerage will post earnings of $2.60 per share for the year, up from their previous estimate of $2.50. Jefferies Group currently has a “Buy” rating and a $36.00 target price on the stock.
Exelon Corp. (NYSE:EXC) last announced its earnings results on Tuesday, August 9th. The energy giant reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $6.90 billion for the quarter, compared to the consensus estimate of $7.30 billion. Exelon Corp. had a net margin of 4.58% and a return on equity of 8.52%. Exelon Corp.’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share.
Several other analysts have also weighed in on the company. Zacks Investment Research lowered Exelon Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Citigroup Inc. increased their price target on Exelon Corp. from $27.00 to $29.00 and gave the stock a “sell” rating in a research report on Wednesday, July 20th. Deutsche Bank AG raised Exelon Corp. from a “hold” rating to a “buy” rating and increased their price target for the stock from $36.00 to $39.00 in a research report on Friday, July 22nd. Bank of America Corp. reissued a “hold” rating and set a $37.00 price target on shares of Exelon Corp. in a research report on Thursday, August 11th. Finally, Morgan Stanley set a $38.00 price target on Exelon Corp. and gave the stock a “hold” rating in a research report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Exelon Corp. has a consensus rating of “Hold” and an average target price of $36.33.
Shares of Exelon Corp. (NYSE:EXC) traded up 0.31% during midday trading on Wednesday, reaching $32.25. 1,639,245 shares of the company were exchanged. The stock has a market capitalization of $29.76 billion, a P/E ratio of 21.59 and a beta of 0.25. Exelon Corp. has a 12-month low of $25.09 and a 12-month high of $37.70. The company has a 50 day moving average price of $33.72 and a 200-day moving average price of $34.83.
In related news, CEO Kenneth W. Cornew sold 30,000 shares of Exelon Corp. stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $36.47, for a total transaction of $1,094,100.00. Following the completion of the transaction, the chief executive officer now directly owns 32,844 shares in the company, valued at $1,197,820.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Calvin Butler, Jr. sold 6,403 shares of Exelon Corp. stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $35.00, for a total value of $224,105.00. Following the transaction, the chief executive officer now owns 18,109 shares of the company’s stock, valued at $633,815. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Manhattan Co. raised its stake in shares of Exelon Corp. by 5.4% in the second quarter. First Manhattan Co. now owns 2,853 shares of the energy giant’s stock valued at $103,000 after buying an additional 147 shares during the last quarter. Hudock Capital Group LLC raised its stake in shares of Exelon Corp. by 0.5% in the second quarter. Hudock Capital Group LLC now owns 2,925 shares of the energy giant’s stock valued at $106,000 after buying an additional 14 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Exelon Corp. by 289.7% in the third quarter. Advisory Services Network LLC now owns 3,351 shares of the energy giant’s stock valued at $112,000 after buying an additional 2,491 shares during the last quarter. Cable Hill Partners LLC raised its stake in shares of Exelon Corp. by 3.7% in the second quarter. Cable Hill Partners LLC now owns 3,189 shares of the energy giant’s stock valued at $117,000 after buying an additional 114 shares during the last quarter. Finally, Daiwa SB Investments Ltd. acquired a new stake in shares of Exelon Corp. during the third quarter valued at approximately $133,000. Institutional investors own 74.90% of the company’s stock.
About Exelon Corp.
Exelon Corporation is a utility services holding company. The Company operates through nine segments consisting of Exelon Generation Company, LLC’s (Generation’s) six power marketing segments, including Mid-Atlantic, Midwest, New England, New York, ERCOT and other regions; Commonwealth Edison Company (ComEd); PECO Energy Company (PECO), and Baltimore Gas and Electric Company (BGE).
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